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IBA Mitaki – ECA-backed financing

26 March 2010

Azerbaijan goes green

MLAs: Landesbank Berlin, Société Générale
Borrower: The International Bank of Azerbaijan (IBA)
Amount: e128 million
ECA: Euler Hermes
Tenor: 15-years for buyer credits 1.5-years for tied commercial loans
Legal counsel: Salans, Baku
Exporter: MITAKI Project, Hamburg

The IBA Mitaki deal constitutes the largest of its kind for Azerbaijan, for Euler Hermes in the country, and creates the first ever green energy project in the entire Caspian region that serves as a benchmark...


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