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World Bank may extend a loan for business development in Azerbaijan

World Bank may extend a loan for business development in Azerbaijan

17 September 2009 16:30 (UTC +04:00)

Baku. Nijat Mustafayev - APA-ECONOMICS. The World Bank is ready to extend a loan to the National Fund for Entrepreneurship Development under the Ministry of Economic Development for the development of small and medium enterprises in Azerbaijan, said Shirzad Abdullayev, Executive Director of the Fund.

According to him, the fund has already held preliminary talks with the WB.

"We will get this loan if its terms are soft,â€ he added.

Shirzad Abdullayev noted that the parties have not conducted formal negotiations but the WB is ready to allocate $100 million for this purpose.

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