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

BP pledges millions to Georgia in controversial pipeline project

British oil major BP is pledging millions of dollars to Georgia as part of the construction of the Baku-Tbilisi-Ceyhan (BTC) pipeline more »

Business And Eeconomics
Published: 12/10/2004

Poles line up for shares in bank

Poles signed waiting lists Sunday for a chance to buy shares in their largest bank, using a signup system from communist times to impose order on the crush of interested investors more »

Business And Eeconomics
Published: 11/10/2004

The Ceremony

"GLOBAL FINANCE": KOMERCIJALNA BANKA, BEST BANK IN MACEDONIA FOR 2004 more »

Business And Eeconomics
Published: 09/10/2004

Gov't Stands Firm Over PKO BP Privatization

The Polish government did not bow to pressure following Parliament's resolution on Friday's declaring that foreign investors would be excluded from the privatization of bank PKO BP more »

Business And Eeconomics
Published: 09/10/2004

RUSSIAN SKY MAY CLOSE FOR ARMENIAN PLANES

Russia may stop providing air navigation lines to the national airlines of CIS member countries, including Armenia, for their debts more »

Business And Eeconomics
Published: 09/10/2004

Ex-Im Bank $180 Million Guarantee Backs U.S. Exports

A four-lane highway linking Romania westward to Hungary and the rest of Central Europe and eastward to the Black Sea will be built with the assistance of a $180 million loan guarantee from the Export-Import Bank more »

Business And Eeconomics
Published: 08/10/2004

Lithuania chokes over use of euro

The Lithuanian government has written to the Dutch Presidency expressing outrage at a recent decision to standardise the word 'euro' across all EU languages more »

Business And Eeconomics
Published: 08/10/2004

Kazakhstan announces plans to raise oil output

Kazakhstan plans to produce about 1.3m barrels (160,000 tons) of oil a day in 2005 more »

Business And Eeconomics
Published: 07/10/2004

YUKOS pays most of its tax debt

The Russian oil company YUKOS has paid RUR 75bn (about $2.53bn) out of its RUR 99.4bn (about $3.4bn) tax debt for 2000 more »

Business And Eeconomics
Published: 07/10/2004

Japan Allocates Grants for US$364,971 to Uzbekistan

Representatives of Japanese embassy in Uzbekistan will sign new grant contracts in Tashkent on 8 October more »

Business And Eeconomics
Published: 06/10/2004

Top News

Liberty Bank