Unibank started to use the DEG loan

Business Materials 7 April 2006 11:23 (UTC +04:00)

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.