The International Bank of Azerbaijan signed a loan agreement with the Nordic Investment Bank (NIB) at the sum of 10mln euro.

Mediamax reports referring Trend that the attracted resource can be used by the bank for funding of investment projects, in which a part of the products has Scandinavian or Baltic origin. According to the conditions of the agreement, the means can be used to pay any expenditure, related to the realization of projects.

The signing of an agreement with Nordic Investment Bank will allow the IBA increasing the financing of long-term projects of corporate customers of the bank, having business relations with Scandinavian and Baltic states.

Nordic Investment Bank - one of the leading international financial institutions, was established in 1975. At present, participant-states of the bank are Denmark, Iceland, Norway, Finland, Sweden, Estonia, Latvia and Lithuania. The priority directions of the bank activity is the realization of investment projects in high-tech sphere of industry both in the territory of the participant-states and abroad. The total assets of the bank make 18bln euro. The Head Office of the bank is located in Helsinki.