Azerbaijan, Baku, Apr. 14 / Trend /
The Azerbaijani DemirBank and Dutch investment company ASN-Novib Fonds signed a loan agreement on attraction of credit in the amount of $5 million, the bank reported. The agreement was signed with the organizational assistance of the Dutch company Triple Jump BV.
The funds will be directed for lending to micro and small businesses. The contract was signed for two years.
Based on the socially-oriented policy, DemirBank pays great attention to lending to micro and small businesses. Regarding this, the bank works with various international organizations. Lending to micro and small business promotes development and improves employment and welfare of the general population.
DemirBank on various credit programs collaborates with international organizations such as EBRD, the International Finance Corporation, Dutch Development Finance Company (FMO), Black Sea Trade and Development Bank, Germany and Azerbaijan Foundation, a German investment company DEG, an international development fund OFID, the Islamic Corporation for private sector development, trade and financial fund Rosemount Global (USA), BANIF (Portugal), an investment fund SIFEM AG (Switzerland), ING BANK (Netherlands), etc.
One of the first banks in the country DemirBank (known as Azerdemiryolbank) began its work in 1989. Among the bank's shareholders are major international financial institutions such as EBRD and FMO.