BAKU, Azerbaijan, Dec. 24
By Eldar Janashvili – Trend:
Azerbaijan’s TuranBank and the European Bank for Reconstruction and Development (EBRD) have signed an agreement to increase the potential of financing micro, small and medium-sized enterprises within the "Technical cooperation program to increase the potential of intermediary financing", Trend reports on Dec. 24 referring to the TuranBank.
In accordance with the agreement, the EBRD’s Business Advisory Services Company will render the necessary support to the Azerbaijani bank to finance the mentioned enterprises.
The support which is rendered by EBRD is aimed at contributing to strengthening the credit potential of TuranBank, improving its organizational structure, using information management systems and developing a marketing strategy for financing micro, small and medium-sized enterprises.
In accordance with the bilateral agreement, a working group has been created to implement the technical assistance program, and the corresponding action plan was approved. The implementation of the program is planned to be launched from January 2020 and will continue throughout the year.
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