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Azerbaijani bank concludes loan agreement with DWM INCOME FUNDS

Society Materials 18 January 2011 16:58
Azerbaijani DemirBank concluded a credit agreement with DWM INCOME FUNDS to the amount of $2,5 million with the support of DWM, the bank said.
Azerbaijani bank concludes loan agreement with DWM INCOME FUNDS

Azerbaijan, Baku, Jan. 18 / Trend /

Azerbaijani DemirBank concluded a credit agreement with DWM INCOME FUNDS to the amount of $2,5 million with the support of DWM, the bank said.

The agreement was signed for 3 years. It provides funding for micro and small lending of various sectors of business in Azerbaijan.

"DemirBank focuses on the development of micro and small business. It is important to expand the financial capacity of representatives of the business. This segment contributes to improving human welfare and the opening of jobs. It corresponds to the socially oriented strategy of the bank. The bank will continue to expand lending in this area," deputy chairman of the board Yusif Jabbarov said.

In the area of crediting DemirBank is co-operating with more than 20 international organizations, including the European Bank for Reconstruction and Development, International Finance Corporation, Dutch Development Finance Company (FMO), Black Sea Trade and Development Bank, German-Azerbaijan Fund, German Investment Company DEG, International Development Fund OFID, Islamic Corporation for Private Sector Development, USAID (United States), Rosemount Global Commercial Finance Fund (USA), BANIF (Portugal), Investment Fund SIFEM AG (Switzerland), ING BANK (Netherlands), etc.

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