Azeri Micro-Financing Bank toaddressd BlueOrchard fund for second tranche

Business Materials 16 May 2006 12:42 (UTC +04:00)

Azeri Micro-Financing Bank (AMFB) is planning to address BlueOrchard Microfinance Security fund in late June for the second tranche, Trend reports quoting Thomas Engelhardt, chairman of the Board. Total amount of credit line is $4mln to be received in three tranches, $1.333mln each.

First tranche was received in January; it is purposed for financing private sector in Azerbaijan.

These funds have been acquired as a result of funds bonds sale at $120mln, which further were directed to financial organizations crediting. The fund operates with 22 international financial organizations around the globe.

The AMFB founders are EBRD, IFC, BSBTD, KfW and LFS Financial Systems GmbH of Germany. The bank is also supported by the EU and GTZ of Germany.