ID :
31543
Fri, 11/21/2008 - 22:44
Auther :
Shortlink :
https://oananews.org//node/31543
The shortlink copeid
EBRD APPROVES $28m SYNDICATED LOAN TO AZERI ACCESSBANK
Baku, 21 November,(AzerTAj)European Bank for Reconstruction and Development (EBRD) approved a $28 million syndicated loan to Azerbaijan`s AccessBank.
The loan is meant to deliver financing to the country`s micro and small enterprises.
The funding comprises a three-year $10 million A-loan for the EBRD’s own account and
a three-year $18 million B-loan, of which $10 million have been taken up by the
Netherlands Development Finance Company (FMO) and the remaining $8 million by WGZ
Bank, Erste Bank and First Bank of Nigeria.
General Manager of AccessBank Andrew Pospielovsky said: “The successful syndication
of this loan, at a time of international financial crisis, is a demonstration of the
strength of AccessBank and the Azerbaijan economy”.
The loan is meant to deliver financing to the country`s micro and small enterprises.
The funding comprises a three-year $10 million A-loan for the EBRD’s own account and
a three-year $18 million B-loan, of which $10 million have been taken up by the
Netherlands Development Finance Company (FMO) and the remaining $8 million by WGZ
Bank, Erste Bank and First Bank of Nigeria.
General Manager of AccessBank Andrew Pospielovsky said: “The successful syndication
of this loan, at a time of international financial crisis, is a demonstration of the
strength of AccessBank and the Azerbaijan economy”.
