TODAY.AZ / Business

UniBank begins utilizing first credit tranche of Black Sea Trade and Development Bank

13 January 2006 [04:43] - TODAY.AZ
The “UniBank” Commercial Bank received the $700 thousand first tranche of the credit granted by the Black Sea Trade and Development Bank (BSTDB) for the purpose of developing trade operations.

According to the information given from the head office of UniBank, the Bank will use the tranche to finance food product export project worth $200 thousand and motor import project worth $500 thousand.

It should be noted that this credit agreement amounting to $3 million in general and intended for implementation of export and import operations in Azerbaijan was signed on November 28 of the past year between UniBank and BSTDB. UniBank is the first private bank in Azerbaijan to be in receipt of a trade financing facility from BSTDB. The BSTDB extended the no-fixed-period revolver credit line to the Bank.


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