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ADB conducts workshop on loan borrowing for Azerbaijanâ€™s Government representatives

25 October 2011 08:41 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. Today, Asian Development Bank (ADB) launched a workshop on ADBâ€™s ordinary capital resources (OCR) loan features, accounting, and servicing. Different from commercial banks, ADB has some unique loan accounting and servicing procedures and practices. The workshop will familiarize the borrowers about OCR for better loan administration.

About 30 participants from the Ministry of Finance and executing agencies participate in the workshop. During the workshop, participants will also be trained on the use of the Enhanced Calculator for Loan Accounting and Servicing. The newly developed Loan Accounting and Servicing Website of ADB will be introduced to the workshop participants as well.
During his introductory remarks, Mr. Olly Norojono, the ADBâ€™s Resident Representative, said: â€œThis is the first time that ADB conducts loan accounting and servicing workshop for Azerbaijan borrowers and executing agencies. To respond to borrowers’ demand for new loan products that can meet their needs to tailor loan terms, ADB has offered LIBOR-based loan (LBL) product since 2001 and enhanced loan terms continuously. We hope that the workshop will enable borrowers fully understand loan features when borrowing OCR loans from ADB for better managing the debtâ€

The workshop will end on October 27.