OREANDA-NEWS. September 18, 2009. Azerdemiryolbank signed a new loan agreement prepared by Swiss company Symbiotics SA Information, Consulting & Services and imploying allocation/provision of resources by the company from Luxemburg Dual Return Fund S.I.C.A.V. In the frame of this agreement Azerdemiryolbank attracted 3 mln USD. The loan agreement is signed for 2 years and assumes funding of micro-credit operations, reported the press-centre of Azerdemiryolbank.

“Implementing various projects in accordance with its socially-oriented policy, Azerdemiryolbank gives a lot of consideration to the development of micro-crediting. Being one of the largest market segments, micro-credit operations promote the development of small entrepreneurship and improve the employment and living conditions of general population in Baku and regions”, said Deputy Chairman of the Management Board Mr. Yusif Jabbarov.

Successful operation of Azerdemiryolbank in the area of micro-crediting is also evidenced by the certificate of transparency, quality and reliability of the highest 5th degree received from international organization Microfinance Information Exchange in June of this year.

Azerdemiryolbank cooperates on various credit programs with international financial institutions, such as European Bank for Reconstruction and Development, International Finance Corporation, Holland Financial Company for Development (FMO), Black Sea Trade and Development Bank, German-Azerbaijan Fund, German Investment Company DEG, International Development Fund OFID, Islamic Corporation on Private Sector Development, Trade-Finance Fund Rosemount Global (USA), BANIF (Portugal), Investment Fund SIFEM AG (Switzerland), ING BANK (Netherlands), etc.

One of the first banks in the country Azerdemiryolbank was established in 1989. Among the shareholders of the Bank there are major international financial institutions, such as the European Bank for Reconstruction and Development (EBRD) and the Netherlands Development Finance Company (FMO).