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Saudi Fund for Development allocates credit to Azerbaijani bank

Saudi Fund for Development allocates credit to Azerbaijani bank

04 December 2012 10:31 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. Amrahbank OJSC and Saudi Fund for Development signed the contract on allocation of the credit line for commercial financing, APA-Economics reports.

Amrahbank is the first bank of Azerbaijan, with which the SDF has signed first loan agreement of $4 million for trade finance operations. The co-operation with Saudi Fund for Development was built on governmental guarantees and loans were allocated for supporting infrastructural and social projects.

Amrahbank was established in 1993. Since 2008 strategic partner and 49% shareholder of the bank is the Bahrain based International Investment Bank.

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