UNIBANK PLANS TO GET $5 MILLION FROM IFC FOR DEVELOPMENT OF LEASING OPERATIONS
UniBank plans to get funding from International Finance Corporation (IFC) at the amount of $5 million. These funds are planned to receive for development of leasing operations, the Bank told Trend.
All funds are supposed to be targeted at financing the projects of the leasing company UniLeasing, which founder is the bank itself, however, the UniLeasing Board chairman Hikmet Garibli noted, there is no any formal agreement on transfer of these funds between the bank and the company so far.
Thus, UniBank will be actually the first recipient of funding within the IFC program on leasing development in the Central Asia and Azerbaijan. The IFC program implementation for 4 countries will start in August.
The access to cheap and long-term funding of IFC will supposedly get per 2-3 best leasing companies in each of the countries. Technical assistance in the development will be also rendered to them. The entire programвЂ™ budget is $30 million for all the member countries.