ID :
191107
Sun, 06/26/2011 - 00:47
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Shortlink :
https://oananews.org//node/191107
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DemirBank boosts lending for small enterprise
Baku, June 25 (AzerTAc). Azerbaijan`s DemirBank OJSC and the Credit Suisse Microfinance Fund Management Company have signed an agreement on attracting new funds with mediation of ResponsAbility Global Microfinance Fund.
CSMFMC will set aside a $2.5 million loan for DemirBank for 2 years according to the agreement, the bank said. The Azerbaijani Bank will direct the loan to financing of small businesses.
"This is the 7th loan agreement with ResponsAbility. DemirBank and ResponsAbility have been cooperating since 2007 and to date the organization has allocated a total of $22.5 million," Bank`s deputy chairman of board Yusif Jabbarov said.
CSMFMC will set aside a $2.5 million loan for DemirBank for 2 years according to the agreement, the bank said. The Azerbaijani Bank will direct the loan to financing of small businesses.
"This is the 7th loan agreement with ResponsAbility. DemirBank and ResponsAbility have been cooperating since 2007 and to date the organization has allocated a total of $22.5 million," Bank`s deputy chairman of board Yusif Jabbarov said.
