ID :
190342
Wed, 06/22/2011 - 11:32
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https://www.oananews.org//node/190342
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Turanbank, IFC ink loan agreement
Baku, June 22 (AzerTAc). Turanbank OJSC and the International Finance Corporation (IFC) have signed a loan agreement on Tuesday.
The agreement was clinched by chairman of the Turanbank`s board Nazim Sadigov and general manager of IFC Ed Stropderman.
Chairman of the Supervisory Board of Turanbank Fuad Musayev said that IFC plans to approve $7 million loan for five-year term. He stressed the loan will be expended on SMEs development projects, in particular, agriculture as well as vine-growing and other fields.
Sadigov said the signing of the agreement means completion of the IFC`s Corporate Governance pilot programme for Turanbank. He said that while the programme has been completed, Turanbank is going to use the IFC`s experience in the future.
The agreement was clinched by chairman of the Turanbank`s board Nazim Sadigov and general manager of IFC Ed Stropderman.
Chairman of the Supervisory Board of Turanbank Fuad Musayev said that IFC plans to approve $7 million loan for five-year term. He stressed the loan will be expended on SMEs development projects, in particular, agriculture as well as vine-growing and other fields.
Sadigov said the signing of the agreement means completion of the IFC`s Corporate Governance pilot programme for Turanbank. He said that while the programme has been completed, Turanbank is going to use the IFC`s experience in the future.
