OeEB Grants Credit to Azerbaijani Bank

Businessn.a. ♦ Published: October 12, 2011; 21:22 ♦ (Vindobona)

DemirBank receives $ 25m from the Austrian Development Bank, RBI and other lenders to support entrepreneurs in Azerbaijan.

OeEB Grants Credit to Azerbaijani Bank / Picture: © Vindobona.org

Oesterreichische Entwicklungsbank (OeEB, Austrian Development Bank) together with the Netherlands Development Finance Company (FMO) arranged a $ 25m loan to Azerbaijan’s oldest bank DemirBank. $ 12.5m is provided by FMO, $ 7.5m by OeEB and further loans amounting to a total of $ 5m are syndicated to three commercial financial institutions: Raiffeisen Bank International AG, DemirHalk…