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EBRD allocates new loan to Bank Respublika

16 December 2010 14:28 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. Europeqan Bank for Reconstructin and Development has allocated $ 10.5 mln to Azebaijan-based Bank Respublika within its Multi-Bank Framework Facility for micro, small and medium enterprises (MSMEs).

The EBRD is providing US$ 3 million MSME loan as a second tranche to Bank Respublika for on-lending to private entrepreneurs and 8-year US$ 6 million mortgage loan as a second tranche to be on-lent by Bank Respublika to private individuals as residential mortgage loans. The EBRD is also providing US$ 1.5 million credit line under the Medium-Sized Co-financing Facility Framework.

Note that, In Azerbaijan the EBRD invests in the enterprise, financial and infrastructure sectors to promote sustainable growth. Since the beginning of its operations in Azerbaijan, the EBRD has invested some â‚¬1.2 billion in about 120 projects, with over 60 per cent of the projects being investments into the development of the private sector.

The EBRD, owned by 61 countries and two intergovernmental institutions, is supporting the development of market economies and democracies in countries from central Europe to central Asia. www.ebrd.com