Baku. Elnur HUseynguluyev – APA-Economics. Azerbaijan-based DemirBank has signed a contract by the organizing of Netherlands Development Finance Company (FMO) on borrowing $25 mln syndicated loan. Bank says the signing ceremony was carried out in Azerbaijan-Austria business forum, Baku.
$12.5 mln of the total sum was allocated by FMO, $7.5 mln – by Austrian Development Bank (OeEB) and $5 mln – by 3 financial companies – Austria’s «Raiffeisen Bank International AG», Netherlands’ DemirHalk Bank H.V and Switzerland’s Atlantic Forfaitierungs AG.
This is the third and largest syndicated loan borrowed by DemirBank. The credit will be used in financing of micro, small and medium entrepreneurship.
The parts allocated by FMO and OeEB were 5-years term. So that, other syndicated loans were allocated for 3 years.
Remind that, DemirBank has been in operation since 1989.
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