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EBRD seeks an equity stake in Agrarcredit

EBRD seeks an equity stake in Agrarcredit

06 October 2009 14:00 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. Azerbaijan-based Agrarcredit non-bank lending institution has offered a equity stake to the European Bank for Reconstruction and Development, said Vugar Yagubov, a credit officer of Agrarcredit.

In his words, the parties are in negotiations on the matter.

â€œThere is no agreement yet as to how much share the EBRD will take. This likely to be not more than 25%,â€ he added.

Agrarcredit, a lending institution with the main focus on agriculture, is owned by the Ministry of Finance (99.98%) and other state agencies.

It operates 12 branches and 4 subbranches across the country.

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