The European Bank for Reconstruction and Development (EBRD) has allocated a loan of 60 million US dollars to "Azerbaijan Caspian Sea Shipping" CJSC (ASCO).
According to ASCO, Caspian Sea Shipping will buy 2 dry cargo ships with those funds in accordance with its international expansion strategy. This project will allow the state-owned company to strengthen its regional ties as part of the Trans-Caspian International Transport Route (Middle Corridor), increase the number of merchant fleet operations in international waters outside the Caspian Sea.
As part of the loan agreement, ASCO will undertake to prepare a sustainability-related credit framework in order to enter the international "Green Finance Market" in the near future.
XQ
