OREANDA-NEWS. November 11, 2010. Azerbaijan’s Turanbank expands co-operation with the International Finance Corporation (IFC).

Informed sources say that the domestic bank is preparing to become the third partner within the IFC Financial Crisis Response Project.

“The Corporation has already transferred to us a contract for advisory services for development of risk management in our Bank. Signing of the agreement is expected soon," the source said.

Currently the IFC provides such services for AGBank and DemirBank. Previously, the Corporation also announced signing of a co-operation agreement with the Central Bank of Azerbaijan for this project in order to establish a joint working group. The project assists local banks to manage risks, bad loans, problem assets, their sales, etc. The IFC Financial Crisis Response was launched in August 2009.