OREANDA-NEWS. October 11, 2011. The agreement aims at facilitating the provision of loans to micro, small, medium-sized enterprises, and, in particular, enterprises involved in agricultural sector of Azerbaijan. The parties reached the agreement on the second tranche after DemirBank has successfully utilized the proceeds of the first tranche in a timely manner, reported the press-centre of DemirBank.

As a result of trust gained in international arena, DemirBank successfully continues its activities on borrowing new funds from international institutions. Thanks to the cooperation with USAID, we can enjoy new opportunities in financing agrarian sector in the country, which is very important to improve the development of entrepreneurship in the regions, growth of quantity of workplaces and improvement of well-being of the population.

DemirBank actively cooperates on crediting and trade financing programs with more than 20 international financial institutions, such as European Bank for Reconstruction and Development, International Finance Corporation, Netherlands Development Finance Company (FMO), Black Sea Trade and Development Bank, German-Azerbaijan Fund, German Investment Company DEG, International Development Fund OFID, Islamic Corporation, USAID (USA), Rosemount Global Fund (USA), SIFEM AG Investment Fund, ING BANK (Netherlands) etc.

One of the first banks of Azerbaijan, DemirBank (formerly called Azerdemiryolbank) started its operations in October 1989. Shareholders of the Banks include large international financial institutions, such as European Bank for Reconstruction and Development (EBRD) and Netherlands Development Finance Company (FMO).