EBRD to provide Azerbaijani bank with loan worth $3 million

Azerbaijani DemirBank and the European Bank for Reconstruction and Development (EBRD) signed the agreement to draw the next loan worth $ 3 million, DemirBank said.

According to the agreement signed for five years, the parties will undertake joint financing of medium-sized business. According to the agreement, the bank will finance 50 percent of the cost of each project.

"DemirBank has been cooperating with the EBRD since 1998," deputy chairman of DemirBank's board Yusif Jabbarov said. "It is one of the first banks in Azerbaijan that drew financial resources from such an influential organization. This is the second agreement of this kind signed between the EBRD and DemirBank. In general, the parties signed nine agreements on various types of financing."


/Trend/