Translated version of this PSD: Azerbaijani
A syndicated loan under A/B structure. The proposed syndicated loan proceeds will be used for on-lending to micro, small and medium-sized enterprises(MSMEs).
The proposed credit line is in line with EBRD’s country strategy for Azerbaijan, and will further support the increase of financial intermediation in the market and promote competition. Supporting the development of private companies and the banking sector in Azerbaijan by increasing medium-term financing to the production sector through domestic banks will facilitate the strengthening of domestic production. Furthermore, the loan will increase the availability of funds to Azeri MSMEs to assist their expansion, and will demonstrate how attracting commercial investment to a country can support the financing of local MSMEs.
Open Joint Stock Company Demirbank, a private commercial bank in Azerbaijan, majority-owned by private individuals.
The EBRD will retain USD 13 million of the proposed syndicated loan of which USD 3 million will be funded through the Financial Intermediaries Special Fund. The balance of up to USD 37 million is to be syndicated on a best efforts basis.
USD 50 million.
Categorised FI. Demirbank is an existing client of the bank and has attended an environmental and social risk management training workshop organised by the Bank on 2010. Demirbank implements environmental and social procedures and is compliant with the Environmental and Social Exclusion List. Demirbank will need to ensure continuous compliance with the PRs2 and 9 and provide an ongoing E&S training to all new comers, especially in regional branches, to ensure consistency of the environmental and social due diligence an monitoring process throughout the entire portfolio.
Aytan Gulusoy, Director International Relations Department
Tel: +994 (12) 444 71 23
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