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USAID and DemirBank sign agreement on second tranche

USAID and DemirBank sign agreement on second tranche

03 October 2011 15:29 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. DemirBank and the Agency for International Development, United States (USAID), signed an agreement to receive the second tranche on the agreement signed in May 2010.

The agreement makes provision of collateral and increase access for micro, small and medium enterprises to credit, especially operating in the field of agriculture. Funds allocated to the first tranche have been used for purposes of the DemirBank.

Remind that, Demirbank (formerly called Azerdemiryolbank) was established in 1989. Among its shareholders are financial institutions such as the European Bank for Reconstruction and Development, the Netherlands Development Finance Company (FMO).

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