OREANDA-NEWS. July 02, 2007. In June 2007, "Bank of Baku" was the first bank in Azerbaijan to successfully complete the co-financing projects together with EBRD. In December of 2006, USD 5 million co-financing credit facility agreement was signed between "Bank of Baku" and EBRD, reported the press-centre of "Bank of Baku".

This credit facility is designed to finance capital needs of Bank of Baku's large corporate clients. In accordance with this agreement, EBRD participates together with Bank of Baku in sharing the risks on a 50/50 basis.

EBRD's assistance is highly appreciated as this product will further stimulate the growth of Bank of Baku's larger corporate clients and will concentrate bank's efforts on financing non-oil related sectors of the economy.