TODAY.AZ / Business

Azerdemiryolbank's shareholders endorsed a co-financing agreement with EBRD

25 August 2006 [10:52] - TODAY.AZ
The Azerdemiryolbank's shareholders have approved the agreement with European Bank for Reconstruction & Development on co-financing of large projects, the domestic bank reported.

According to Sharg news agency, Azerdemiryolbank has already launched process of accepting applications for co-financing and has already considered applications in the amount of $1.3 million. That will allow to begin spending finances within a month. But their full use will take around 1 or 2 months, the Bank said.

Budget of co-financing with EBRD is $6 million.

The EBRD's stake in Azerdemiryolbank’s banking capital exceeds 25% a little.

/BakuTODAY/

URL: http://www.today.az/news/business/29358.html

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