The International Bank of Azerbaijan has raised a syndicated loan in the amount of over $ 200 million.
The organizers of the transaction are Citibank, Credit Suisse A.G. London Branch (Credit Suisse), Emirates NBD Capital Limited (ENBD) and J.P. Morgan.
The coordinator and agent of the transaction was Citibank Europe Plc, and the release agent was J.P. Morgan.
The agreement has been joined by 12 financial institutions. This loan is the first since April 2015.
The loan agreement is for a period of one year. The proceeds will be used for general corporate purposes, in particular for the financing of trade projects. ---71D
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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