EBRD offers loan to Azerbaijan Caspian Shipping Company 

The European Bank for Reconstruction and Development (EBRD) has offered a loan of more than $100 million to Azerbaijan Caspian Shipping Company CJSC (ASCO), Ruslan Alikhanov, the Chief Executive Director of Azerbaijan Investment Holding, said, Report informs.

"The sides have already signed a mandate agreement," he added.

The Chairman of the ASCO, Rauf Veliyev, told reporters that discussions are underway with the EBRD on the annual interest rate of the loan to be allocated: "Although the interest rates have not yet been specified, we expect that they will not exceed 5%."