Baku - APA-Economics. International Finance Corporation (IFC) will allocate $ 7 mln to Azerbaijan-based Turanbank for supporting small and medium entrepreneurship.
The sides are expected to sign the agreement.
The loan will be allocated for supporting development of non-oil sector in Azerbaijan, improvement of assets and liabilities management during the limited opportunities of the financing.
Turanbank borrowed $13.5 mln for expansion of micro-financing this year.
Turanbank was established in 1992.
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