Bank Of Baku

Bank Respublika borrows from abroad

Bank Respublika borrows from abroad
# 10 June 2010 14:35 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan-based Bank Respublika signed a contract about the borrowing $5 mln from European Fund for Southeast Europe (EFSE) for financing of small business, head office of the bank told APA.
Note that, the contract was signed in the EFSE’s annual meeting in Ohrid, Macedonia, on June 8-10. The loan was allocated on the framework of European Neighbourhood Small Business Growth Facility and means new partnership perspectives to the country.
The EFSE’s investors are: European Commission, German Federal Ministry of Economic Cooperation and Development, Austria, Switzerland, Denmark, Albania, EBRD, EIB and Oesterreichische Entwicklungsbank.
Bank Respublika has been in operation since 1992.
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