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Azerdemiryolbank gets a foreign loan

Azerdemiryolbank gets a foreign loan

01 September 2009 14:32 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijanâ€™s Azerdemiryolbank has secured a $3 million loan arranged by Symbiotics SA Information, Consulting & Services and financed by Dual Return Fund S.I.C.A.V..

The loan came for two years and proceeds will go to microfinance operations, said the bank.

Yusif Jabbarov, deputy chairman of the bank, said Azerdemiryolbank pays great attention to the development of micro-crediting under its social-oriented policies.

â€œMicro-loans contribute to the development of small businesses, as well as improvement of employment and welfare of the population both in Baku and in regions,â€ he added

Azerdemiryolbank has been in operation since 1989.

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