EBRD allocated EUR 5.6 mln loan to Azerbaijani company

EBRD allocated EUR 5.6 mln loan to Azerbaijani company
# 30 November 2022 16:27 (UTC +04:00)

European Bank for Reconstruction and Development (EBRD) allocated credit to Azerbaijani company “Gemza Group” LLC, APA-Economics reports citing EBRD.

According to the EBRD, the Bank allocated EUR 5.6 mln totally for “Gemza Group” LLC for the construction of 3 modern warehouses, which costs EUR 19.1 mln totally.

Notably, “Gemza Group” is a company providing equipment (pumps and valves), spare parts production and repair, maintenance, and overhaul services in Azerbaijan, some Central Asian countries, UAE and Turkiye. This is the second allocated credit to the company by EBRD.

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