The International Bank of Azerbaijan (IBA) drew a second loan this week - this time from the Dutch bank ING Bank NV for $ 60 million.
According to the information of the financial agency, the line is allocated in the framework of the signed loan agreement in April. The funds are provided for a period of 1 year for corporate purposes.
Earlier, the country's largest bank attracted a syndicated loan worth $ 200 million. The deal was arranged by Citibank NV, Ingbank NV, Raiffeisen Bank International AG, and Uni Credit Bank Austria AG.
IBA was founded in 1992. The controlling stake (51.07%) belongs to the state represented by the Ministry of Finance, while 48.93% belong to private shareholders. The shareholders of the IBA are about 1.6 thousand businesses and individuals. --17D-
Economics
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In recent months, an increase in the price of butter has been observed in Azerbaijan. Notably, this is the third price hike within a year. According to consumers, certain brands of butter that cost 19 manats per kilogram at the end of last year are now being sold for 24 manats, marking a nearly 30% increase.
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Azerbaijan has signed an "Agreement on Project Implementation" with China’s BYD Company Limited (BYD) to establish a domestic production line for electric buses, officials announced.
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Russia has reduced its greenhouse gas emissions by more than twofold from the 1990 baseline, Russian Prime Minister Mikhail Mishustin announced at the COP29 climate summit.
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Georgian Prime Minister Irakli Kobakhidze announced that Georgia will present its updated Nationally Determined Contribution (NDC 3.0) by 2025, signaling the country’s renewed climate ambitions during his speech at the COP29 summit in Baku on Wednesday.
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