Tuesday, 16 July 2019 04:02 GMT

EBRD to continue issuing manat loans for Azerbaijan

(MENAFN - AzerNews) By

The European Bank for Reconstruction and Development (EBRD) will continue to provide loans to Azerbaijan in national currency, the EBRD head office told Trend.

"We plan to continue issuing loans in national currency in the future, including during 2018, but it requires the interest of our customers," said the head office.

In late 2017, the EBRD allocated the first corporate loan for Azerbaijan in national currency manat. The loan was allocated for METAK company, the biggest producer of plastic and metal pipes. The loan amount was eight million euros in manat equivalent.

According to the head office, the EBRD still aims at issuing bonds in manats.

"Issuance of bonds in national currency in Azerbaijan remains as one of our goals, and we continue our discussions with relevant bodies. We need to monitor the market, as there are many external factors that affect our decision," said the EBRD office adding that currently, there is no exact timeframe for issuing bonds.

The EBRD announced its intention to issue manat bonds in Azerbaijan in 2016.

Earlier, the organization's local representative office told Trend that firstly, the bonds will be sold within the country, and then the issue on their issuance for foreign markets will be considered.


EBRD to continue issuing manat loans for Azerbaijan

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