Search
Search
- US$ 3.5 million EBRD loan to Azerbaijan’s construction materials and industrial tools distributor
- Universal Pro to develop four-storey B-class office building
- EBRD focused on helping small businesses become more efficient and professional
The European Bank for Reconstruction and Development (EBRD) is strengthening Azerbaijan’s construction sector with a US$ 3.5 million loan, in Azerbaijani manat equivalent, to Universal Pro LLC, a leading distributor of construction materials and industrial tools.
Universal Pro is embarking on a property development to capitalize on the growing demand for modern office spaces in central districts of Baku, the Azerbaijani capital.
The EBRD loan will support the development of a four-storey B class office building in central Baku with gross leasable area of 3.700 square meters. It will be located in one of the multi-functional and well-connected areas of the city and will help small and medium-sized enterprises (SMEs) to restructure and become more efficient or professional.
The EBRD is a leading institutional investor in Azerbaijan. To date, the Bank has invested €3.305 billion through 178 projects in the country. It also provides business advice to local small and medium-sized enterprises and has helped more than 1,000 firms to improve their performance and growth.