EBRD starts financing of Azeri non-bank credit orgs
The European Bank of Reconstruction and Development (EBRD) is ready to expand its operations in the financial sector. вЂњThe bank will start the cooperation with the Azerbaijani non-bank credit organizations under the MSE financing program in 2006,вЂќ Chikago Kuno, the Director of the EBRD Group on small business, told Trend.
вЂњBesides, several more banks will receive finance,вЂќ Kuno added.
вЂњEBRD seeks to double the portfolio on financing of MSE and SME, co-financing, trade financing and investment in capital of local banks in 2006,вЂќ Raymond Convey, the representative of EBRD in Azerbaijan, told Trend.
Convey said that the portfolio was estimated at $40m at present.