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International Bank of Azerbaijan borrows $100m from Korean bank

International Bank of Azerbaijan borrows $100m from Korean bank
07.05.2015 16:11
The International Bank of Azerbaijan (IBA) said it has signed a $100-million loan agreement with the Export-Import Bank of Korea.

The loan will be used to fund Korean imports into Azerbaijan, the bank said in a statement on May 7.

IBA is Azerbaijan’s largest lender. It is 51.7 percent owned by the Ministry of Finance.

www.ann.az
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