TuranBank OJSC, one of the leading banks in Azerbaijan in the
field of small and medium business financing, has signed new loan
agreements with funds managed by the reputable Incofin Investment
Management of Belgium.
According to the agreements, the Bank has attracted financial
resources in local currency equivalent to USD 1.25 million from the
"Incofin Climate-Smart Microfinance Fund" (CSMF) and EUR 2 million
from the "Incofin Microfinance Fund" (IMFI) for a period of 3
years. These funds will be directed to financing small and medium
businesses, especially environmentally sustainable projects. This
will further expand access to financial resources in local currency
for entrepreneurs operating in the regions and protect them from
exchange rate risks. It should be noted that the aforementioned
investment is another successful step taken by the Bank towards
supporting the sustainable economic development strategy of our
country.
About Incofin Investment Management:
Incofin is a leading impact investment fund
manager, backing businesses in inclusive finance, sustainable food,
and clean water. Managing over $1 billion in assets, Incofin has an
experienced team of 90+ professionals across Belgium, Colombia,
Kenya, and India. With more than $5 billion invested through equity
and debt, Incofin powers entrepreneurs across 50+ emerging and
frontier markets, delivering tangible impact where it matters most.
For more information: www.incofin.com
About TuranBank OJSC:
TuranBank OJSC was established in 1992 and operates as one of
the most reliable financial institutions in Azerbaijan. The Bank
provides its customers with a wide range of financial services in
accordance with international standards. Currently operating with
22 service points across the country, TuranBank has demonstrated
sustainable development throughout its 34 years of activity and has
stood out for its commitment to the principles of transparency,
reliability, and social responsibility.
For more information: www.turanbank.az
TuranBank
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