IFC representatives due in Baku to take part in Azerbaijan Micro-financing Bank Supervisory Board
A delegation of the German Reconstruction Bank (KfW) consisting of Michael Yaintsik and Marc Schwite will arrive in Baku on 10-12 February for financial projects in Azerbaijan monitoring, the KfW Baku office head Natik Abdullayev told Trend.
Representatives of the European Bank for Reconstruction and Development (EBRD), the Black Sea Bank of Trade and Development (BSBTD), the International Finance Corporation (IFC) and the LfC Consulting Company will also arrive in Baku for participation in the Azerbaijan Micro-financing Bank (AMFB) Supervisory Board sitting, of which shareholders they are. By rotation the banks Supervisory Board chairman is the KfW official Marc Schwite.
Results of the previous year, possibilities for the banks authorized capital increase will be under consideration with the banks stock-holders. For today its authorized capital is $6,850 million, which reached the level after payment its share of $1,710 million by the German KfW and enlargement by another stock-holder, LfC its share to $390.000.
All AMBF stock-holders shares are currently distributed like this: KFW owns 24,96%, LfC 5,7%, BSBTD and IFC per 25,55% ($1,750 million), EBRD 19,24% ($1,250 million).
Another goal for the German bank delegation is monitoring of the Azerbaijani-German Funds activities.