Local bank secures loan despite global crunch
Azerbaijan`s Bank Respublika has secured a foreign
loan amid the global financial crisis, a source from the bank`s
head office has said.
It noted that the bank has signed an eight-year loan agreement of $12.5 million with a member of КfW bank group DEG - German Investment and Development Company. It will enable Bank Respublika to strengthen its resource base and streamline the level of its diversification. The proceeds from the agreement will be channeled into financing mortgage loans.
It noted that the bank has signed an eight-year loan agreement of $12.5 million with a member of КfW bank group DEG - German Investment and Development Company. It will enable Bank Respublika to strengthen its resource base and streamline the level of its diversification. The proceeds from the agreement will be channeled into financing mortgage loans.
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