Bank Of Baku

IFC, BP, AMFB to finance service companies in Azerbaijan

IFC, BP, AMFB to finance service companies in Azerbaijan
# 15 March 2007 16:35 (UTC +04:00)
The IFC, Azerbaijan Microfinance Bank and BP-Azerbaijan intend to sign an agreement to provide funding to service companies engaged in oil sector.
IFC Office in Baku told APA-Economics that the project costs $15m of which, $6m will be provided by the Corporation.
The other two project participants will also offer financial facilities. The finances will be collected in a revolving fund to extend loans to the service companies. /APA-Economics/
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