DemirBank attracts new loan from abroad

DemirBank attracts new loan from abroad
# 10 April 2012 10:59 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. DemirBank has signed an agreement with “OPEC Fund for International Development” (OFID) on borrowing new financial means.

According to agreement, “OPEC Fund for International Development” (OFID) will allocate $5 mln loan to Demirbank for 5 years.

The bank will direct the funds on crediting of small and micro entrepreneurship.

One of the country’s first banks DemirBank (former name Azerdemiryolbank) started operating in 1989. Among the Bank’s shareholders are large international financial organizations such as European Bank for Reconstruction and Development and Holland Financial Development Company (FMO).
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THE OPERATION IS BEING PERFORMED