German investment company gets UniBank stake

Published: 4 June 2005 y., Saturday
Print icon twitter icon facebook icon Send mail icon Print icon

The Deutsche Investitions und Entwicklungsgesellschaft mbH (DEG) has acquired a 8.33% stake in UniBank, a major local bank with a special focus on small and medium enterprise (SME) development.

DEG and UniBank signed a relevant agreement on Wednesday, along with a long-term agreement on allocation of a $3 million loan to finance the SME sector in Azerbaijan.

The signing ceremony held on the occasion of the Germany-Azerbaijan business conference was attended by Economic Development Minister Farhad Aliyev.

UniBank has been a project partner of KfW Bankengruppe, receiving technical and financial assistance from KfW Entwicklungsbank. The European Bank for Reconstruction and Development (EBRD) has been a shareholder of UniBank since 2003.

DEG is one of the largest European financial institutions that has been financing investments of private companies in developing and transition countries for over 40 years.

Šaltinis: Baku Today / Assa Irada
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

Central Europe economies face difficult times ahead: OECD

The economies of central Europe face difficult times in coming years owing to a slowdown in the pace of reforms and a labour shortage, a senior OECD official said on Monday more »

Business And Eeconomics
Published: 05/12/2004

Zloty's appreciation against dollar, euro 'worrying': Polish PM

Prime Minister Marek Belka voiced concern Thursday about the steady appreciation of Poland's currency, the zloty, against the dollar and the euro, saying it was "potentially quite worrying" more »

Business And Eeconomics
Published: 04/12/2004

Lithuania rejects Yukos' request

The Lithuanian government has rejected a request by Russian oil giant Yukos that would enable it to delay an increase in its stake in the Lithuanian oil refinery Mazeikiu Nafta, the government's information bureau said more »

Business And Eeconomics
Published: 04/12/2004

FINANCIAL SUPPORT FOR SMALL BUSINESS

In 2005, the program of support for small business will be put into effect, Andrei Sharov of the Russian Ministry of Economic Development and Trade said Thursday more »

Business And Eeconomics
Published: 03/12/2004

BT Makes 'Contact' With VoIP

To improve customer service and save money, BT is having Nortel bring Voice over IP to its U.K. call centers more »

Business And Eeconomics
Published: 03/12/2004

The State Development Program of Kazakhstan Sector

Vladimir Shkolnik reported on execution of the State Development Program of Kazakhstan Sector of the Caspian more »

Business And Eeconomics
Published: 02/12/2004

A controversial amendment

Parliament of Hungary passed a controversial amendment to the central bank act more »

Business And Eeconomics
Published: 02/12/2004

Gazprom To Become Global Energy Giant

Gazprom, Russia's gas monopoly and the world's biggest gas producer at the same time, can easily finance the acquisition of Yukos’ main production unit Yuganskneftegaz by tapping international markets more »

Business And Eeconomics
Published: 02/12/2004

REDUCTION OF TAX BURDEN ON BUSINESSES TO CONTINUE

Gradual reduction of the tax burden on economic entities will continue next year, together with easing taxation procedures, Finance Minister of Uzbekistan said Tuesday more »

Business And Eeconomics
Published: 01/12/2004

Bashing the central bank

Hungary's government has pushed through a law to undermine the independence of the central bank more »

Business And Eeconomics
Published: 30/11/2004

Top News

Liberty Bank