UniBank has received the first tranche of the credit line from the German Investments Corporation DEG equaling $1.45mn, the bank told Trend.
Six projects engaged in various economic sectors inclusive of construction material production, foodstuff production and sales and agro-business are under way thanks to that money.
The agreement regulating the aspects of the credit line from DEG was signed during the German-Azeri Business Conference in Berlin on 31 May last year. The credit lines total amount equals $3 mn; it will be employed to finance small and medium entrepreneurship (SME) projects.
DEG has been an 8.33% shareholder of UniBank since 2005.