EBRD plans to provide $7M to furniture manufacturer in Azerbaijan

The European Bank for Reconstruction and Development (EBRD) plans to provide a senior loan of $7 million in manat equivalent to the Azerbaijani furniture manufacturer and distributor Saloglu Holding LLC, Report informs referring to the EBRD.

The Loan will be split into a committed tranche of $4 million and an uncommitted tranche of $3 million. The proceeds are planned to be used for capital expenditures and working capital needs.

The EBRD loan resources are expected to increase the company's productivity and profitability through investments in production facilities and trade infrastructure, as well as strengthen its financial stability thanks to long-term financing in national currency.

The total cost of the project is estimated at $8 million. As of May 31, 2025, the current loan portfolio of the EBRD in Azerbaijan is estimated at 991 million euros.

In total, the EBRD has invested more than 3.783 billion euros in Azerbaijan for the implementation of 198 projects. The bank's cumulative disbursements amounted to 3.132 billion euros.

In 2024, the EBRD provided loans to finance eight projects in Azerbaijan for a total of 199 million euros, which is 27.56% (43 million euros) more than in the previous year.