Summary of Proposed Investment
Project Number
27032
Company Name
CREDAGRO LIMITED LIABILITY NON-BANK CREDIT ORGANIZATION
Date SPI Disclosed
Apr 30, 2008
Country
Azerbaijan
Industry
Financial Markets
Projected Board Date
Jun 6, 2008
Status
Completed
Sector
Microfinance and Small Business - Non Commercial Banking
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Jun 24, 2008
Signed : Jun 27, 2008
Invested : Sep 30, 2008
Project Description
The proposed project comprises of:
- a senior loan of up to $6.0 million and
- a subordinated convertible loan of up to $4.0 million to Credagro, a limited liability Non Banking Credit Organization providing finance to rural entrepreneurs and businesses in Azerbaijan (Credagro or the company).
The objective of the project is to support Credagro by providing long term funding which will contribute to the further expansion of its lending to Micro, Small and Medium sized Enterprises (MSMEs) throughout the country and will give impetus to the transformation process of Credagro to a microfinance bank in the mid term.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Eldar H. Jafarov, Director
CredAgro
63 Hasan Aliyev Str
Baku, AZ1110, Azerbaijan
Tel: (994-12) 564 2790
Fax: (994-12) 564 2791
Email: eldar@kredaqro.com
For Inquiries and Comments About IFC, Contact
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