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

Commission approves Latvian support scheme for banks

The European Commission has approved under EC Treaty state aid rules a Latvian support scheme to stabilise financial markets by providing guarantees to eligible banks to ensure their access to financing. more »

Business And Eeconomics
Published: 24/12/2008

China celebrates 30 years of reform

Gathering in Beijing, China's political elite gather to celebrate three decades of China's economic reform and market liberalisation. more »

Business And Eeconomics
Published: 18/12/2008

Deals on climate and economy sealed in Brussels

After two days of intense negotiations, European leaders reached agreement on how to achieve the EU’s ambitious climate change goals and endorsed a €200bn plan to revive the flagging EU economy. more »

Business And Eeconomics
Published: 15/12/2008

U.S. Senate blocks auto rescue

Detroit won't get its bailout, as the U.S. Senate blocked the measure to rescue America's big three car makers. more »

Business And Eeconomics
Published: 12/12/2008

MEPs probe reasons behind world food crisis

The world is facing “an acute food crisis”. That was the verdict of a report adopted by MEPs in the Agriculture Committee on 8 December. more »

Business And Eeconomics
Published: 12/12/2008

Commission proposes ways to deliver cheaper and more competitive food prices in Europe

The European Commission has agreed a Communication that aims to improve the functioning of the food supply chain in order to lower prices for consumers. more »

Business And Eeconomics
Published: 11/12/2008

World Bank: 2009 will be grim

The World Bank's 2009 Global Economic Prospects report is projecting world growth will shrink to 0.9 percent next year. more »

Business And Eeconomics
Published: 10/12/2008

Democrats submit auto loan plan

Prospects for a federal aid package to help the US auto industry advanced on Monday. more »

Business And Eeconomics
Published: 09/12/2008

More regulation on the way in shadow of declining economy

A new report from Aite Group LLC explores possible regulatory and legislative responses to the current financial crisis, with particular attention paid to three key topics: consumer lending, risk management and deposit relationships. more »

Business And Eeconomics
Published: 09/12/2008

Market, economic changes make this significant time for ATMs

A new report from Mercator Advisory Group's Retail Banking Practice focuses on the ATM and the multifaceted role it plays in the retail banking market. more »

Business And Eeconomics
Published: 08/12/2008

Top News

Liberty Bank