Bank Respublika completes credit facility usage

As APA reports, it used the credit line to allow loans to 17 companies for four years. Average volume per loan made $235 000.

Bank Respublika and the FMO concluded a $10m-loan agreement of opening of a credit line on August 28. The Bank has already used $8.4m of this credit line and a new agreement is expected to be signed soon.

Bank Respublika has also used $2m credit resources allowed on trade financing program. Bank has a long and successful enough history of co-operation with the Asian Development Bank (ADB), The Netherlands Development Finance Company (FMO), The German-Azerbaijan Fund (GAF), the Black Sea Trade and Development Bank (BSTDB), DEG Investment Company, Bankgesellschaft Berlin, Raifeisen, Commerzbank, National Entrepreneurial Assistance Fund (NEAF), Azerbaijan Mortgage Fund (AMF) and other financial organizations.

In total, Bank Respublika received loans of over $65m from financial institutions.