$15 million of loan agreement to be signed between International Bank of Azerbaijan and Sumitomo Mitsui Banking Corporation in Baku

As APA reports, the credit agreement stipulates funding of import of Japanese goods to Azerbaijan. Insurance of the credit will be realized by the Nippon Export & Investment Insurance Corporation of Japan.

According to the IBA officials, several agreements on reception of funds from foreign financial structures have already been signed with participation of IBA and state guarantee is not used here in most cases.

"This factor shows the growth of the influence of the International Bank in the world market", the IBA official stressed.

So, the agreement on lending 45 million euros to IBA was signed with the Societe Generale Bank of France in June of the past year.

Subsequently, the U.S. Citigroup and Commerzbank of Germany granted $56 million of syndicated credit to IBA in August.