Bank Of Baku

Turanbank attracts loan from IFC

Turanbank attracts loan from IFC
# 21 June 2011 11:01 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Turanbank and the International Finance Corporation (IFC) have today signed an agreement. The document was signed by the Board Chairman of Turanbank Nazim Sadigov and IFC Senior Manager Ed Strawderman.

Head of Observation Council of the Bank Fuad Musayev noted that according to loan agreement, it is planned to allocate a credit to Turanbank at amount of $7 mln for 5-year term. The credit will be mainly spent to financing of projects related to small and medium entrepreneurships, agriculture, as well as projects connected with the development of vine-growing and other spheres.

Sadigov said that signing of today’s loan agreement completed the fulfillment of IFC’s Pilot Program on Corporative Management on Turanbank: “The bank will widely use the IFC practice in future too”.

Remind that, Turanbank has been in operation since 1992. The bank operates 11 branches, 16 ATMs, 74 POS-terminals and 239 employees across the country.
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