TuranBank attracts local-currency funding from international funds

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.

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 informatio  www.incofin.com 

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