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EBRD stands ready to support the establishment of Azerbaijan Agricultural Bank

EBRD stands ready to support the establishment of Azerbaijan Agricultural Bank

12 September 2008 14:02 (UTC +04:00)

Baku. Rashad Suleymanov - APA-Economics. Azerbaijan is negotiating with international organizations and financial institutions to establish a bank which will focus on the agrarian sector.
Elman Rustamov, the chairman of the National Bank of Azerbaijan, said negotiations are under way with the European Bank for Reconstruction and Development (EBRD) too.
"This will not be a state-owned bank, but a bank to be established with the participation of foreign investors and private sector. It is planned to involve EBRD and one of the leading agricultural banks in Europe to the management. Subsequently, these institutions may become co-owners of the bank ".
Rustamov added that EBRD will officially announce its decision to participate in the project in the coming days.

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