OREANDA-NEWS. September 1, 2011. Asian Development Bank (ADB)  has increased the limit on renewable credit for DеmirBank up to USD 2 million within the agreement signed in April 2010.

Azerbaijani bank reports that the allocated funds are directed for export-import operations financing.

Thus the volume of committed funds within the agreement with ADB has increased up to USD 5,5 million. USD 3,5 million from this sum has been allocated for provision of guarantees within international trade financing and  USD 2 million- as a renewable credit for export-import operations financing.

DemirBank is cooperating with over 20 international organizations on credit programs. Among them are: European Bank for Reconstruction and Development, Asian Development Bank, International Finance Corporation, Holland Financial Development Company  (FMO), Black Sea Trade and Development Bank, German-Azerbaijani Fund, International Development Fund OFID, Islamic Corporation on Private Sector Development, USAID and other international organizations.

One of the country’s first banks DеmirBank (formerly Azerdemiryolbank) started its activity in 1989. Among the bank shareholders are such large international financial organizations as  European Bank for Reconstruction and Development and Holland Financial Development Company  (FMO).