State-owned company “Azerbaijan Caspian Shipping Company” (ACSO) may receive a loan of $100 million from the European Bank for Reconstruction and Development (EBRD).

This was announced by Rauf Veliyev, chairman of the joint stock company.

According to him, if the credit is granted, these funds will be used to upgrade the fleet of the shipping company.

The OJSC chairman noted that the annual interest rate on the credit is not determined yet, the negotiations with the EBRD are ongoing. To his thinking, the credit will be allocated at 5% per annum.

Source: Turan News Agency