EBRD to extend a loan to Azerdemiryolbank

EBRD to extend a loan to Azerdemiryolbank
# 15 May 2009 08:42 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. The European Bank for Reconstruction and Development (EBRD) is planning to extend a new loan to Azerbaijan-based Azerdemiryolbank.

The EBRD Office in Baku said the loan is expected to be $13 million - $10 million for micro-credits and $3 million for small and medium-sized business development.

Established in 1989, Azerdemiryolbank is owned by the European Bank for Reconstruction and Development (EBRD) (25%+1), the Netherlands Development Finance Company (FMO) (10%), legal entities (10%) and about 850 individuals (the rest).

As of April 1, assets stood at AZN 209.32 million, loan portfolio at AZN 160.35 million and total capital at AZN 39.62 million.

The bank operates 29 branches, 40 ATMs and 240 POS terminals across the country.
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THE OPERATION IS BEING PERFORMED