USD 1.7

Baku 20 °C

AZ RU EN FA FR

Dark mode

POLITICS

NEWS

World

Economics

Sport

Culture news

Analysis

Blogs

Company

TOP 10

© 2004 - 2026 All copyright are reserved.

Finance

Home page

DemirBank gets new loan from abroad

DemirBank gets new loan from abroad

22 December 2009 15:48 (UTC +04:00)

Baku. Elnur Huseynguluyev - APA-ECONOMICS. Azerbaijan-based commercial bank DemirBank has signed an agreement with Belgiumâ€™s VDK Spaarbank NV to get a $2 million loan, arranged by Incofin Investment Fund.

The two year loan will go to the microfinance development.

Yusif Jabbarov, Deputy Chairman of the Bank, said DemirBank and VDK Spaarbank NV have been in good cooperation since 2007.

â€œThe loan came without collateral. The proceeds will be used to finance micro and small loans, consequently leading to the development of business,â€ he added.

DemirBank (Azerdemiryolbank) has been in operation since 1989. The European Bank for Reconstruction and Development (EBRD) holds a 25%+1 stake in the bank, leaving 10% to the Netherlands Development Finance Company (FMO), 10% to legal entities and the rest to about 850 individuals.

Finance

Azerbaijan

Azerbaijan's insurance market grows by nearly 2% this year

Vusal Gurbanov, Director General of the Central Bank of Azerbaijan

Central Bank of Azerbaijan preparing amendments to compulsory insurance regulations

Chairperson of the Supervisory Board of the Azerbaijan Insurers Association Ulviyya Jabbarova

Azerbaijan's insurance market doubles over past four years

Aliyar Mammadyarov, First Deputy Chairman of the Central Bank of the Republic of Azerbaijan

Central Bank of Azerbaijan preparing new development strategy for insurance sector

ATTENTION!

Dear user for receiving paid news sign up

Sign up

ATTENTION!

Dear user for receiving paid videos sign up

Sign up

ATTENTION!

Dear user for receiving paid photos sign up

Sign up

THE OPERATION IS BEING PERFORMED