Azerbaijan, Baku, Aug. 2 /Trend A.Hasanov/
Non-banking credit organization TBC Kredit borrowed $4.5 million aimed for the development of small business lending from the two international financial institutions, the company told Trend.
"In April of this year, TBC Kredit has received a loan of $1.5 million from MicroVest and signed another loan agreement with responsAbility Social Investments AG for providing the credit line amounting to $3 million. Some $1 million has already been received in accordance with the agreement with responsAbility," the report says.
TBC Kredit Company is also working with OPIC (Overseas Private Investment Corporation, USA) and the European Bank for Reconstruction and Development (EBRD) for a long time.
Non-bank credit organization TBC Kredit has been operating in Azerbaijan since 1999. Some 75 percent are owned by the leading Georgian bank TBC Bank and 25 percent - ShoreBank International Ltd. since December 2007.
Official exchange rate on Aug.2 is 0.7855 AZN/USD