Two credit agreements have been signed between Azerbaijan's Rabita Bank and non-banking credit organization Finca-Azerbaijan and EBRD (European Bank for Reconstruction and Development), Trend reports.
Two credit lines: $43 mln for the development of the small-scale and middle-size entrepreneurship, and $1 mln on financing trade will be opened for Rabita Bank.
The credit agreement between EBRD and Rabita Bank was signed for 5 years. The minimal amount of the credit for subjects of the small-scale and medium-sized entrepreneurship will reach $10.000, and the maximum - $100,000.
The credit line for Finca Azerbaijan stipulates granting $3 mln for micro financing. The minimum amount of the credit may be $50, and the maximum - $10.000.
During the signing ceremony, Mr. Decamp said that it was the first time when EBRD signed a credit agreement with a non-banking credit organization in Azerbaijan. Mr. Decamp called this contract as the result of EBRD high level cooperation with Azerbaijan.