The vice-president added that SOCAR does not tend to borrowing and tries to borrow the loan from domestic sources: “For example, SOCAR borrowed $1.2 billion loan from IBA as a domestic source”.
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SOCAR prefers to borrow loan from domestic sources – vice president
28 June 2016
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SOCAR conducts transactions on credit with leading banks of the world, SOCAR Vice-President for Economic Issues Suleyman Gasimov said at the meeting with heads of Non-Government Organizations (NGO).
According to him, this proves the confidence of international financial institutions in SOCAR: “Today, these banks allocate loans to SOCAR in low interest. We also try the period of these loans to be short. Therefore, we recently borrow loan with the interest rate of 5% and period of 5 years”.
The vice-president added that SOCAR does not tend to borrowing and tries to borrow the loan from domestic sources: “For example, SOCAR borrowed $1.2 billion loan from IBA as a domestic source”.
The vice-president added that SOCAR does not tend to borrowing and tries to borrow the loan from domestic sources: “For example, SOCAR borrowed $1.2 billion loan from IBA as a domestic source”.
