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Turan MSME II

Sector: Oil and Gas • Location: Azerbaijan

Source: International Finance Corporation (IFC)

Project
Completed

The proposed project consists of a senior loan of up to US$7 million to TuranBank OJSC (“TuranBank”), an existing investment partner of IFC. The proceeds from the Project will serve to expand the Bank’s lending program to MSMEs (the “Project”). This Project supports a strong financial intermediary with a successful track record. The Project is also instrumental in supporting the expansion of non

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Project Information

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The project “Turan MSME II” is an infrastructure initiative in the Oil and Gas sector, located in Azerbaijan. Taiyo aggregates data on it from International Finance Corporation (IFC).

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Participants

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Status

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completed

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Description

Description

The proposed project consists of a senior loan of up to US$7 million to TuranBank OJSC (“TuranBank”), an existing investment partner of IFC. The proceeds from the Project will serve to expand the Bank’s lending program to MSMEs (the “Project”). This Project supports a strong financial intermediary with a successful track record. The Project is also instrumental in supporting the expansion of non-oil industries in Azerbaijan. Turan Bank is a Tier II Bank that was established in 1992 as an LLC and became a joint stock company in March 2005. The Bank’s vision is to be a universal bank providing a wide range of banking products and services to MSMEs and individuals through a wide network of branches and regional centers. TuranBank operates through a network of 14 branches, including 8 branches in the regions. The Bank is re-directing its services to MSME sector since 2007 after being a boutique bank focused on large corporate clients.

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Source

Source reliability

High

Data quality score

100%

Source

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URL

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More Details

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