Central Bank of Azerbaijan and EBRD sign swap agreement worth to USD 200 mln.

Central Bank of Azerbaijan and EBRD sign swap agreement worth to USD 200 mln.
  • Clock-gray 15:43
  • calendar-gray 19 May 2020

Central Bank of Azerbaijan and European Bank for Reconstruction and Development jointly provides financial contribution for the business subjects, damaged as a result of coronavirus pandemics, APA-Economics reports citing CBA.

To this end, in order to increase access to the financial resources of real sector during the coronavirus pandemics, Central Bank of Azerbaijan and European Bank for Reconstruction and Development have signed a swap agreement worth to USD 200 mln. in total. Thus, the EBRD will get new opportunities for credit support to local companies in national currency by getting reliable access opportunity to local currency. USD 50 mln. of this fund - AZN 85 mln. is considered to be given to local companies, especially smaller companies, experiencing temporary difficulties during the current year.

Narmin Rahimova

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