TBC Kredit has received $ 3.5 million in funding for MSME in Azerbaijan
The European Bank for Reconstruction and Development (EBRD) in cooperation with TaiwanICDF (International Cooperation and Development Fund) has identified the local non-bank credit organization TBC Kredit a loan of $ 3.5 million.
As stated in the European Bank, it gives $ 2.5 million of this and the loan is intended to finance projects in the field of micro, small and medium enterprises (MSME).
The non-bank credit organization TBC Kredit operates in the financial market since 1999. Since December 2007, 75% of the company owned by the leading Georgian bank TBC Bank and 25% - ShoreBank International Ltd. -15D -
During its activity in Azerbaijan, the European Bank for Reconstruction and Development has invested in various sectors of the economy more than $ 2.1 billion. -15D--
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