The Central Bank has provided AZAL with a long-term loan worth over
300 million mantas, under state guarantees, the head of the bank's
management, Elman Rustamov said on Thursday.
The loan will be used to renovate the air park of AZAL, for flights to
Nakhchivan in particular, Trend reports.
The loan was provided at a 4% rate for 12 years.
It was the fourth direct credit given by the Central Bank under state
guaranties for financing strategic enterprises of the country.
The first loan was worth 750 million mantas for SOCAR (State Oil
Company of the Azerbaijani Republic) for seven years with an annual
rate of 2%, the second loan was worth 202 million mantas and was
provided to Azeraluminium for 10 years at a rate of 3%, the third was
provided to Azerenerji. It was worth 300 million mantas.
The official currency rate for January 20 is 0.7974 AZN/USD.
