EBRD BECOMES SHAREHOLDER OF “AZERDEMIRYOLBANK”
European Bank of Reconstruction and Development has reportedly purchased 25% + one share holding of the Azerbaijani commercial bank ‘Azerdemiryolbank’. Corresponding treaty was signed on November 23 in Baku.
Preliminary worth of the agreement is 2,375 million USD. However, owing to the overestimation of all main funds of “Azerdemiryolbank”, the issue of payment remains open irrespective of contract.
“Azerdemiryolbank” and EBRD have also signed credit agreement within the frames of small-scale business financing program. Azerdemiryolbank will be provided with credit line of 1 million USD within 5 years with 2 years debtors’ delay and libor + 5% interest rate.
