OREANDA-NEWS. May 17, 2010. DemirBank and the Asian Development Bank signed two agreements amounting to 4.5 million U.S. dollars in the Trade Finance Program, reported the press-centre of Bakcell.

One of the contracts will be aimed at providing guarantees under ADB's commercial operations, while the other - to provide revolving credit facility to finance the import and export clients. The primary limit on the first contract is 3.5 million dollars, the second - 1 million dollars. Contract signed for an indefinite period, which will help increase the number of operations for the financing of international trade, and ensure an increase in the volume of services provided over a long period.

"For DemirBank is the first agreement with the Asian Development Bank, indicating that the expansion of its international relations. As a result of this cooperation will increase the volume of services provided to customers on acceptable terms. Collaboration with the Asian Development Bank will contribute to further development of our Bank" - stated Yusif Jabbarov, Deputy Chairman of the Execute Board.

DemirBank 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 Azerbaijan DemirBank (former name Azerdemiryolbank) started its activity in 1989. The shareholders of Bank include large international financial institutions, such as European Bank for Reconstruction and Development and Netherlands Development Finance Company (FMO).