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Azerbaijan : AZERBAIJAN: DEMIRBANK secures a syndicated loan of $ 37m from EBRD

June 2, 2014



The European Bank of Reconstruction and Development (EBRD) has expressed its willingness to arrange a syndicated loan of $37 million for the Azerbaijani DemirBank OJSC.

The EBRD has revealed that the bank s Board of Directors is prepared to approve the loan proposal on 25th June, 2014.

According to the EBRD, the lender will hold US$ 13 million of the planned syndicated financing, out of which US$ 3 million will be funded via the Financial Intermediaries Special Fund. The EBRD will syndicate the remaining amount of as much as US$ 37 million on the basis of top efforts.

The DemirBank of Azerbaijan will use the EBRD-led new syndicated loan facility to expand funds to micro, small and medium-sized enterprises.


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Source: TendersInfo (India)


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