IBA gets three int`l awards
The International Bank of Azerbaijan (IBA), the
country`s leading bank, has been awarded the Best Sustainability
Deal from the Britain-based Emeafinance journal, the bank said.
The award marks IBA`s participation in the project of financing Yeni Yashma, the first project on the production of wind power in Azerbaijan. The project, worth about 118 million euros, envisages the construction of 20 windmills with a total production capacity of 50 megawatts, according to IBA`s press-service.
World banks have been focusing on the environmental impact of the projects they finance. Decisions on financing a given project or business are passed today while taking into account tough guidelines on environmental friendliness of the operations. IBA has acted as a guarantor of the transaction co-signed by Societe Generale and Landesbank Berlin, according to the bank.
Emeafinance also announced the results of the ``Best Bank`` annual award in Eastern and Central Europe and the CIS last week, recognizing IBA as the best bank within this category on Azerbaijan.
Moreover, US magazine Global Finance has named IBA the winner in the ``Best Emerging Markets Bank`` nomination in Azerbaijan, the bank`s ninth time winning in this category since 2000.
The award marks IBA`s participation in the project of financing Yeni Yashma, the first project on the production of wind power in Azerbaijan. The project, worth about 118 million euros, envisages the construction of 20 windmills with a total production capacity of 50 megawatts, according to IBA`s press-service.
World banks have been focusing on the environmental impact of the projects they finance. Decisions on financing a given project or business are passed today while taking into account tough guidelines on environmental friendliness of the operations. IBA has acted as a guarantor of the transaction co-signed by Societe Generale and Landesbank Berlin, according to the bank.
Emeafinance also announced the results of the ``Best Bank`` annual award in Eastern and Central Europe and the CIS last week, recognizing IBA as the best bank within this category on Azerbaijan.
Moreover, US magazine Global Finance has named IBA the winner in the ``Best Emerging Markets Bank`` nomination in Azerbaijan, the bank`s ninth time winning in this category since 2000.
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