ACBA BANK AND EBRD TO SIGN AGREEMENT
Azg/arm
27 July 05
ACBA Bank and the European Bank for Reconstruction and Development
(EBRD) signed an agreement of $3 million co-financing and credit. This
money will be spent on projects of major creditors alone. This is an
unprecedented project as it’s the first time that the EBRD not only
provides credit resources but also realizes 50 percent of projects’
financing, relying on ACBA Bank’s researches.
The credit is provided for 7 years.
At present, ACBA already has two credit agreements with the EBRD,
amounting $3 million each.
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