Finance

Finance

MCB Leasing to increase financing of projects in 2012

01 February 2012 08:48 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Pakistani company in Azerbaijan MCB Leasing will quadruple financing of leasing projects on agriculture to AZN 1.2 mln, said the Chairman of Board of Directors Ramal Jafarov.

According to him, share of agriculture in total leasing portfolio makes 10% and this is expected to increase to 15% by the end of 2012.

He noted that, the company intended to join the of USAID Development Credit Authority Project and talks on this issue are being held: â€œThe project covers financing of agricultural equipments, refrigerating cameras and the techniques belonging to this sphere. According to conditions, USAID takes on responsibility in amount of 50% when any problem is created with the clientâ€.

Jafarov also noted that, certain projects on delivery of Azerbaijanâ€™s products, especially fruits to Europe would be financed.

According to Jafarov, taking the predicament in leasing market into consideration, MCB Leasing Company will not increase the interest rates in 2012.

Remind that, MCB Leasing Company was registered in October, 2009.