Dutch bank loan to boost business in Azerbaijan
Azerbaijan’s DemirBank has signed a $5 million loan covenant
with Dutch SNS Institutional Microfinance Fund aiming to lend funds
for entrepreneurship in the country, according to the bank.
The agreement covers three years, which will allow DemirBank to
leverage additional funding for crediting business activity in
Azerbaijan in the coming years.
Yusif Jabbarov, deputy chairman of DemirBank steering board,
commented that, along with large and medium-sized loans, the bank
places an emphasis on small and micro-credits. "This is also a
graphic example of our socially-oriented policy," he added.
DemirBank, previously Azerdemiryolbank, started its activity in
1989. Among its shareholders are EBRD and FMO.*
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!