EBRD to Increase Volume of Credit Lines for Azerigazbank

The European Bank for Reconstruction and Development (EBRD) will increase the volumes of credit lines for the Azerbaijani Joint Stock Investment Azerigazbank.

EBRD took a decision to increase financing both within the credit line for the trade financing, and development of the small and medium-size entrepreneurship, the bank’s board chairman Azer Movsumov told Trend.

The agreement between two banks will be signed in September.

EBRD will increase the volume of the credit line for trade financing for $1 million, and the projects of the small and medium entrepreneurship for $1,5. Thus, the total amount of funding will reach $5,5 million with the increase of the credit line for the trade financing up to $2 million, and for the small and medium size entrepreneurship – up to $3,5 million. Financing will be allocated for three years.