OREANDA-NEWS. January 19, 2011. Azerbaijan’s DemirBank with support of the DWM Foundation has signed a USD 2.5 million loan agreement with DWM Income Funds.

The Bank reports that the three-year agreement provides funding for micro and small lending to various sectors of business in Azerbaijan. Thus, the total amount of the agreement between DemirBank and DWM Foundation is USD 7.5 million.

“DemirBank focuses on the development of micro and small businesses. It is quite important for us to expand their financial opportunities, increase main and circulating production facilities. This segment contributes to improving human welfare and opening of jobs, which corresponds to the socially oriented strategy of the Bank. To this end, the Bank will continue to expand lending in this area," Bank’s deputy chairman Yusif Jabbarov said commenting on the agreement.

DemirBank is co-operating with more than 20 international organizations in the area of crediting, including the European Bank for Reconstruction & Development, International Finance Corporation, Netherlands Development Finance Company (FMO), Black Sea Trade and Development Bank, the German-Azerbaijan Fund, the German Investment Company DEG, International Development Fund OFID, the Islamic Corporation for Private Sector Development, USAID, Commercial Finance Fund Rosemount Global (USA), BANIF (Portugal), the Investment Fund SIFEM AG (Switzerland), ING BANK (the Netherlands) and others.