OREANDA-NEWS. April 06, 2010. International Finance Corporation increased its credit limit to DemirBank to 10 mln US dollars within its Global Trade Financing Program.

The previous limit to the Bank within the mentioned program was 5 mln USD. Thus, owing to the success of its previous credit line to DemirBank, the International Finance Corporation doubled the limit.

The agreement has the aim of financing global trading and crediting import and export operations. The agreement is termless, which will help to increase the Bank’s international trade financing operations and ensure the increase of the scope of provided services in long-term perspective.

“DemirBank and International Finance Corporation cooperate within Global Trade Financing, SME financing and Housing finance programs. As a result of this cooperation clients receive services on favourable conditions. This cooperation facilitates the further development of the Bank”- stated Yusif Jabbarov, Deputy Chairman of the Execute Board.

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).