TODAY.AZ / Business

European Fund for Southeast Europe provides $5m loan to Azerbaijan's Bank Respublika

11 June 2010 [10:44] - TODAY.AZ
The European Fund for Southeast Europe (EFSE) has signed a loan agreement of $ 5million with Azerbaijan's Bank Respublika for on-lending to small business during its annual meeting in Ohrid, Macedonia.
It is the first investment of EFSE in the country. Bank Respublika will use the proceeds to finance investments and working capital of small businesses in Azerbaijan. EFSE's loan to Bank Respublika will support the Bank's aims to significantly expand lending to MSEs, particularly in rural areas of the country.

EFSE's loan to Bank Respublika is being provided under the European Neighbourhood Small Business Growth Facility (ENBF), a dedicated European Neighbourhood window within the EFSE structure.


/AzerTAc/
URL: http://www.today.az/news/business/69569.html

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