(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 7. Agreements on
opening credit lines to Azerbaijani banks will be signed this year,
President of the Azerbaijan Banks Association (ABA) Zakir Nuriyev
said during a conference on "Economic reforms and modern challenges
for improving the business environment" in Baku, Trend reports.
He reminded that during 2023, international financial
institutions signed a number of agreements on the opening of
large-scale credit lines to Azerbaijani banks.
"In the coming months, we'll witness the continuous signing of
these contracts. As ABA, together with the Central Bank and the
Ministry of Economy, we have launched a project to finance
socio-economic development. The goal of the project is to form a
systematic approach to expansion of financing of the real system,”
he emphasized.
Established in 1990 by commercial banks, the ABA serves as a
representative body for its member organizations. Its primary
objectives include addressing the diverse business service needs of
members and facilitating coordination among them. ABA currently
boasts a membership of 23 banks and 6 non-banking
organizations.
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