Bank Of Baku

ADB to sign contracts with Azerbaijan-based 5 banks

ADB to sign contracts with Azerbaijan-based 5 banks
# 28 April 2010 09:50 (UTC +04:00)
Baku. NIjat Mustafayev – APA-Economics. Asian Development Bank extends Trade Finance Facilitation Program (TFFP) in Azerbaijan, head of Capital Markets and Financial Sectors Division Private Sector Operations Department Steven Beck told APA.

According to him, ADB will sign 5 contracts with Azerbaijan-based 5 banks (DemirBank, Bank of Baku, Bank Respublika, AGBank and AccessBank) on the framework of program.

Indonesia, Nepal, Vietnam, Pakistan, Bangladesh and Sri-Lanka have joint to this program in 2009. Mongolia and Philippine have joint to TFFP program in early of 2010.

TFFP has allowanced $1.9 bln for trade deals in 2009.
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THE OPERATION IS BEING PERFORMED