EBRD will grant a credit to ASCO without sovereign guarantee

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A mandate letter was signed between the European Bank for Reconstruction and Development, Azerbaijani Investment Holding, and the Azerbaijan Caspian Shipping CJSC (ASCO).

The document was executed by Mrs. Nandita Parshad, Executive director of the EBRD Sustainable Infrastructure Group during her visit to our country, Ruslan Alikhanov,  chief executive officer  of Azerbaijan Investment Holding, and Rauf Veliyev – ASCO chairman.

This document provides for EBRD to grant a large volume credit without a sovereign guarantee for financing the project related to the upgrade of  ASCO fleet.