Baku. Nijat Mustafayev – APA-Economics. Asian Development Bank has signed contracts with Azerbaijan-based 5 banks – Bank of Baku, AccessBank, AGBank, DemirBank and Bank Respublika - on the framework of Trade Finance Facilitation Program (TFFP) in Baku, on April 28, 2010.
According to new contracts, ADB will allocate $1 mln for Bank of Baku, $4 mln for AGBank, $5 mln for DemirBank, $1 mln for Bank Respublika. ADB will warrant for AccessBank.
ADB has allocated $ 1.9 bln for trade deals in 2009, up by 4 times compared with 2008.
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