AZERDEMIRYOLBANK EXPANDS ITS COOPERATION WITH EBRD

03.06.2006 [12:27]
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Azerdemiryolbank is expanding its microfinance operations with the support of the European Bank for Reconstruction and Development (EBRD).

EBRD in its annual meeting in London once again expressed its willingness to step up cooperation with Azerdemiryolbank.

According to chairman of Azerdemiryolbank’s board Roman Amirjanov, Azerdemiryolbankand EBRD signed two loan agreements. Young credit specialists selected and trained by Germany-Azerbaijan Joint fund are actively crediting the population of Baku, Sumgait, Ganja and Lankaran. Microcredit groups will start their operations in Goychay, Agdash, Shaki, Guba and Gusar within ten days.

Presently, Azerdemiryolbank and EBRD are jointly working on the details of the agreement. $6-million agreement is slated to be signed in the third quarter of this year.

AZERDEMIRYOLBANK EXPANDS ITS COOPERATION WITH EBRD

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