Baku, Azerbaijan, March 16
By Azad Hasanli - Trend:
The German Saving Banks Foundation for International Cooperation (SBFIC) expands its activities in Azerbaijan.
SBFIC, which is the manager of the German-Azerbaijani Fund (GAF), opened Sparkassen Advisory Services company in Azerbaijan.
The company's representative Eduard Schmitt, who is also GAF's manager, told Trend March 16 that Sparkassen Advisory Services will provide consulting services for Azerbaijan's financial sector.
Germany's SBFIC operates since 1992 and offers technical assistance to bank sector.
SBFIC, in particular, has cooperated with public and private sector in Azerbaijan in the spheres of strengthening the banking sector and microfinance, business development in rural areas, has provided various consulting services and contributed to the institutional strengthening of training centers of financial institutions.
One of SBFIC's projects is GAF, which operates in the country since 1999. GAF allocated over 40,000 loans worth 130 million euros for the development of small and medium enterprises in the country.
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