EBRD plans to allocate unsecured loan to ASCO

Negotiations are currently underway between Azerbaijan Caspian Shipping CJSC (ASCO) and the European Bank for Reconstruction and Development (EBRD), said Economy Minister Mikayil Jabbarov.

Report informs that according to him, the negotiations are at the final stage:

"If the negotiations are successful, the bank will allocate a significant amount of credit to ASCO without a state guarantee.

"This, in turn, will strengthen our transport logistics needs, that is, the construction of new ships in the Caspian Sea and the possibility of increasing the company's fleet in other basins."

More than 200 ships belonging to ASCO currently sail in the Caspian Sea and international waters.