Black Sea Trade and Development Bank allocates another loan to Azerbaijani bank
Azerbaijan, Baku, Jan 5 /Trend/
Azerbaijani DemirBank and the Black Sea Trade and Development Bank (BSTDB) signed the agreement to give a loan to the amount of $15 million, DemirBank said on Thursday.
"DemirBank has been cooperating with BSTDB since 2006," the Deputy Chairman of the Board Yusif Jabbarov said. "This is the third agreement of this kind signed between DemirBank and the Black Sea Trade and Development Bank. According to the agreement, signed for five years, $15 million will be directed by the bank for lending micro, small and medium entrepreneurship.
DemirBank signed several agreements worth $40 million with various international organizations in 2011."
DemirBank cooperates in credit programs with more than twenty international organizations. The European Bank for Reconstruction and Development (EBRD), International Finance Corporation, Asian Development Bank, the Netherlands Development Finance Company (FMO), Black Sea Trade and Development Bank, the German-Azerbaijan Fund, German Investment Company DEG, International Development Fund OFID, Islamic Corporation for the Development of the Private Sector, USAID and other international organizations are among them.
DemirBank (former Azerdemiryolbank) started its work in 1989. Its shareholders include major international financial institutions such as the European Bank for Reconstruction and Development and the Netherlands Development Finance Company (FMO).