Another Loan for IBA

A new loan has been implemented for the International Bank of Azerbaijan (IBA).

According to the report of the largest financial body, a loan of $ 100 million was attracted from The Export Import Bank of Korea (KEXIMBank), and the relevant contract was signed.

The press release noted that the loan will be used to finance imports of goods into Azerbaijan from Korean manufacturers.

Recall during last week IBA attracted two loans totaling $ 260 million.

IBA was founded in 1992. The owner of a controlling stake in its share capital (51.07%) is the government through the Ministry of Finance, while the other 48.93% stake is owned by private shareholders. --17D-

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