Bank Standard signs mutual understanding memorandum with ALDP
Bank Standard has signed a mutual understanding and cooperation memorandum with the Azerbaijan International Financial Corporation (ALDP). Bank Standard is planning to start leasing operations this year, and ALDP project will offer bank technical assistance in leasing development, the Bank told Trend.
ALDP will assist bank to increase staff professional experience, develop leasing policy, program maintenance and marketing strategy, and in a number of leasing services.
Bank Standard in its turn promises to prepare financing for the leasing operations, inform on bank leasing portfolio, and assist the ALDP effective work.
Development of the leasing technical assistance project first started 3 years ago. It is financed by the Swiss State Secretariat (Seco), which has provided $2m for that purpose.
Leasing development project is a part of larger 7m of Swiss franks ($30m) project, this sum will be provided to companies participants of the project to finance medium and small businesses.