OREANDA-NEWS. April 26, 2011. DemirBank successfully continues its cooperation with international financial institutions with the purpose of expanding its credits to micro and small entrepreneurship, reported the press-centre of DemirBank.    

DemirBank signed a new contract for the attraction of finances from “MicroVest” microfinance institution of US. According to the contract, "MicroVest I" L.P.  and "MicroVest SDF" L.P. funds managed by “MicroVest” microfinance institution will provide finances to DemirBank in the total amount of 2.4 mlnUSD.

DemirBank started its cooperation with “MicroVest” microfinance institution from 2007 and since then, including the new contract, attracted finances for the total amount of approximately 5mln.USD.

The deputy head of the Bank’s Management Board Yusif Jabbarov made the following statement regarding the contract: “Micro and Small Business Credits is currently one of the most significant directions of the Bank’s credit policy. We are planning to expand our credits to entrepreneurs. Today 30 branches of DemirBank in Baku and regions offer micro and small credits to public and businesses.”

At present, DemirBank offers entrepreneurs 500 - 20.000 manat micro and 20 001 - 100 000 manat small credits. Entrepreneurs operating in production, trade, service and other sectors of economy can use the Bank’s micro and small business credits. DemirBank also offers group credits to farmers for the development of their agribusiness.

To receive Micro and Small Business Credits the entrepreneurs may approach DemirBank’s branch offices in Baku, Ganja, Sumgayit, Sheki, Zaqatala, Yevlakh, Barda, Gazakh, Guba, Gusar, Goychay, Agdash, Agsu, Shamakhi, Lankaran, Masalli, Sabirabad and Imishli.