SEF Azel

completed

_x000C_Azerbaijan Electronics (Azel or the company), a joint-stock company owned by two systems integration engineers, is one of the most successful computer and office equipment suppliers and systems integrators in Azerbaijan. The company’s main clientele is in the corporate sector and its main lines of business, all of which are related to the procurement, supply and maintenance of computers and office equipment, include: - systems integration; - retail; - post-sale service; - software development; and - computer assembling.The project is to secure the necessary basic physical infrastructure for the company to develop and grow in a conducive business environment by way of the following main project components: - purchase of 1,300m2 of new office space, currently under development, in the center of Baku; and - expansion of the company’s computer/office equipment retail network to four stores by purchasing two new locations of 150m2 each. Total project cost is expected to be $5.1 million, and IFC has been requested to provide an A Loan of $2.5 million, with the balance to be financed by new equity and internal resources.