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DemirBank attracts $3 mln loan from abroad

DemirBank attracts $3 mln loan from abroad

06 June 2012 08:08 (UTC +04:00)

Baku. Elnur HÃ¼seynquluyev â€“ APA-Economics. DemirBank and European Bank for Reconstruction and Development (EBRD) signed a new loan agreement worth $3 million.

According to the contract concluded for a period of five years, the sides will realize co-financing of medium-sized enterprises in Azerbaijan. Under the agreement, the EBRD will directly fund 50% of the total amount of each project

â€™DemirBank cooperates with the European Bank for Reconstruction and Development since 1998, and since 2005, the EBRD is a shareholder of DemirBank. In general, the sides concluded 11 agreements on various projects so far. The support of the EBRD’s various technical programs, the project implementation of SAP for Banking program and other areas are very important for usâ€™, said Deputy Chairman of the Board Yusif Jabbarov.

Remind that, DemirBank started to operate in 1989.

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