11 Jun 2024 16:34

FMO to provide Azerbaijan's Bank Respublika with $25 mln loan to expand business lending

BAKU. June 11 (Interfax) - Azerbaijan's Bank Respublika is attracting a $25 million loan from FMO, the Dutch entrepreneurial development bank, Bank Respublika told Interfax.

Bank Respublika said that FMO would provide the loan funds for a period of four years in Azerbaijan's national currency.

"The funds raised will strengthen loan support for the real sector of Azerbaijan's economy. The funds will be particularly used to finance agricultural companies, as well as micro, small and medium enterprises," the financial institution's representative said.

Founded in 1992, Bank Respublika is among Azerbaijan's top five banks.