TODAY.AZ / Business

IFC to take a 10%-20% stake in Rabitabank

22 February 2007 [09:30] - TODAY.AZ
The International Finance Corporation and Azerbaijan's Rabitabank may sigh a deal in March.

Bank's Board Chairman Zakir Nuriyev told APA the parties are working on details and draft terms of the agreement.

Some part of the IFC's funding will be converted to its interest in the bank. The IFC's stake will be at least 10% or 20% in ceiling. The IFC will also extend an AZN 2mln loan to Rabitabank for five years with one year grace period. The loan will be on-lending to small and medium-size enterprise, he said.

URL: http://www.today.az/news/business/36869.html

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