ECONOMY
Demirbank borrows USD 15m from Black Sea Trade and Development Bank
Baku, January 5 (AZERTAC). DemirBank has concluded a new loan agreement worth USD 15 million with the Black Sea Trade and Development Bank.
The proceeds of the five-year agreement will be utilized to finance micro-, small- and medium-sized enterprises
DemirBank actively cooperates on crediting and trade financing programs with more than 20 international financial institutions, such as European Bank for Reconstruction and Development, International Finance Corporation etc.
One of the first banks of Azerbaijan, DemirBank (formerly called Azerdemiryolbank) started its operations in October 1989. Shareholders of the Banks include large international financial institutions, such as European Bank for Reconstruction and Development (EBRD) and Netherlands Development Finance Company (FMO).
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