TODAY.AZ / Business

International Finance Corporation extends credit line to UniBank CB

07 October 2006 [10:20] - TODAY.AZ
UniBank CB has joined the GTFP (Global Trade Finance Programme) of the International Finance Corporation, in the format of which the Bank is awarded with a termless revolver credit line for trade finance in the total amount of $1.5 mn.

As APA reports, this credit line will enable UniBank to confirm documentary operations for export and import projects; projects with terms of up to one year will be financed under the credit line.

UniBank, however, has been also allowed to finance projects with terms of up to 18 months and to the total amount of $500 thousand.

The receipt of the funding from the IFC is a sign of the Bank’s implementing actively the policy for borrowings from the world capital markets. It will be remembered that the European Bank for Reconstruction and Development had awarded UniBank with the credit line in the amount of $1.5 mn for support to guarantees and letters of credit.

The new credit line taken from the IFC is to help expand UniBank's practice in this particular financing area.


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