OREANDA-NEWS. April 12, 2011. DemirBank continues successful cooperation  with international financial organizations aiming to expanse crediting of micro and small business.

The bank reports that DemirBank has made a new agreement with American microfinance organization MicroVest to raise funds. Under the agreement funds of MicroVest I L.P. and  MicroVest SDF L.P managed by microfinance organization MicroVest will raise funds for DemirBank  for the total sum of USD 2,4 million.

DemirBank started cooperation with microfinance organization MicroVest in 2007 and attracted funds from it for the total sum of USD 5 million including the sum on new agreement.

Commenting the agreement Deputy Chairman of the Bank’s Board Yusif Jabbarov noted: " Increase of crediting volume for micro and small business is one of the main directions of DemirBank’s credit policy. We are envisaging further expansion of entrepreneurship crediting. At present the bank’s 30 offices in Baku and regions offer micro and small business credits to the population and entrepreneurs".

DemirBank offers microcredits to entrepreneurs for the sum of AZN 500-20.000 and small credits for the sum of AZN 20.001- 100.000. The entrepreneurs engaged in production, trade , service and other industries of economy can benefit from the bank’s micro and small credits. DemirBank offers group credits to entrepreneurs for development of business in agricultural area.

To get micro and small business credits the entrepreneurs can apply to one of the bank’s offices operating in Baku, Ganja, Sumgait, Sheki, Zagatala, Yevlakh, Barda, Gazakh, Guba, Gusar, Goychay, Agdash, Agsu, Shamakhi, Lenkoran, Masalli, Sabirabad and Imishli.