Bank of the Republic and the European Bank of Reconstruction and Development (EBRD) implemented the first transaction as part of a guarantee of trade financing, which was activated in September this year between two organizations. The agreement was signed by the President of EBRD Odil Reno-Basso and the chairman of the Board of the Bank of the Republic Tariel Ismailov.
The deal was covered by a guarantee of the EBRD Program for the Program, in which the Republic and Raiffeisen Bank International Austria, the Azerbaijan and Council of Bureaux (Belgium) bureau,
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Commenting on a significant deal, Kamola Makhmudova, the head of the EBRD representative office in Baku, noted: “I am very glad that the EBRD trade financing program returned to Azerbaijan after a 5-year break, and the first deal in this area was carried out with the Bank of the Republic, Our partner in Azerbaijan is one of the largest over the past 10 years and indicates a very strong restoration of the economy. We believe that this will be one of many transactions in the coming months that contributes to the further integration of the Azerbaijani business in international markets. “
“The conclusion of this agreement is another stage of the Bank of the Republic in supporting the real sector of Azerbaijan and will help increase the volume of export-import operations of our customers. The main advantages of our bank in the field of trade financing are flexible conditions of cooperation, and an individual approach to the needs of everyone the client and each transaction by highly qualified experts. We are convinced that it is these components that help us serve our customers at a high level and receive recognition from such respected international institutions as EBRD, ”said the chairman of the Board of the Republic of Tariel Ismailov.
The Trade Development Program is aimed at promoting foreign and domestic trade in the EBRD regions and offers a number of products to assist this trade, including guarantees and money advances associated with trade. The program expands the capabilities of local banks in financing trade and provides support to entrepreneurs through these banks, which they need to expand their access to import and export trade in our regions.
This year, the Bank of the Republic and EBRD celebrate the 30th anniversary of its activities in Azerbaijan. The Bank of the Republic is one of the leading banks of Azerbaijan and the old EBRD partner. Its main strategic goals are small and medium -sized enterprises and microfinancing.
EBRD is a leading institutional investor in Azerbaijan, where the organization invested more than 3.6 billion euros in 185 projects in financial, corporate, infrastructure and energy sectors, most of these investments in private enterprises. The bank’s strategy in the country is aimed at helping to Azerbaijan in the diversification of the economy and the development of the nonsense of the private sector.