Azerbaijan may get loan from EBRD for fast crew boat

25 November 2024

Azerbaijan may get loan from EBRD for fast crew boat financing

15:33 21 April 2016 Read: 1232

Azerbaijan may get loan from EBRD for fast crew boat financing

The Board of Directors of the European Bank for Reconstruction and Development (EBRD) is considering providing a senior loan of up to $20.4 million to Caspian Marine Services Limited (`CMS`) May 25, 2016, according to the EBRD website.

CMS is an oil and gas services company, which operates a fleet of offshore supply vessels in the Caspian Sea, mainly Azerbaijani territorial waters.

The loan within the framework of the `Fast crew boat financing` project will be used to finance part of the acquisition costs of a new fast crew boat to be operated in territorial waters of the Caspian Sea, the message of the EBRD said.

The total cost of the project is $34 million, some $20.4 million of which account for the share of the EBRD.

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