Azerbaijan bank signs syndicated loan agreement worth $16M manats

PASHA Bank OJSC has signed a syndicated loan agreement worth 16.3 million manats ($9.59 million) in accordance with local regulatory requirements and international standards (LMA standards), Report informs, citing the bank.

The loan was allocated to Azermash OJSC and Irshad Electronics LLC operating in the real sector with the participation of other financial institutions.

"Access to financial resources is one of the key factors in the development of any business. To date, PASHA Bank has implemented many educational initiatives in the field of alternative financing and investment attraction. In 2024 alone, the Bank hosted events titled 'Syndicated Lending in Azerbaijan' and 'Introduction to Alternative Investments in Azerbaijan.' Our goal is to create a cooperation platform between the local financial sector, investors, and businesses. As a follow-up to the initiatives, this successful step has been taken in accordance with new international standards and established legislative norms. While traditional financing previously formed the basis of our credit products, we are now diversifying our capabilities by offering syndicated loans for corporate clients and SMEs," said Javid Guliyev, Chairman of the Management Board of PASHA Bank.