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Omni Finance to get foreign loan

Omni Finance to get foreign loan

16 December 2009 10:47 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan-based nonbank lending institution Omni Finance intends to secure a loan of $2-3 million from foreign financial institutions in 2010, said Emin Sadigov, Chairman of Omni Finance.

According to him, getting foreign loans has been set as the priority in the strategic development plan for the next years.

â€œNegotiations will be launched with potential investors in early 2010. We intend to create cooperation with the EBRD and international financial institutions,â€ he added.

Proceeds of loans will go on-lent to small and medium-sized enterprises in the regions of the country, he added.

Owned by 3 local individuals, Omni Finance launched operation in 2003.

It currently operates branches in Beylagan, Agdjabedi and Sumgait.

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