OREANDA-NEWS. December 18, 2009. CBA first Deputy CEO Alim Guliyev says that the bank gave the first tranche (AZN 141 million) of loan to Azeraluminium OJSC.

“Overall size of loan will make AZN 202 million. Funds are given  for the term of 10 years under annual rate of 3%. Granting of the second tranche will depend on granting of state guarantees and development of business strategy of the enterprise,” A. Guliyev said.

CBA has been giving loans of such kind under governmental guarantees since 2009. The State Oil Company of Azerbaijan (SOCAR) became the first recipient of a similar loan in the amount of AZN 750 million disbursed for the term of 7-years  under 2% per annum.

“We do not have plans of granting other loans under state guarantees so far,” A. Guliyev said.