Azerbaijani SMEs win ITFC approval

Azerbaijani leasing company Unileasing has agreed a US$3.5mn credit facility with International Islamic Trade Finance Corporation (ITFC) to finance its small and medium enterprises (SMEs).

Unileasing department head Hikmet Ibrahimov says: "A huge number of potential clients, convenient schemes of financing, as well as attractive leasing terms have allowed (us to start) spending these funds. To date, US$2.5mn of the credit line has been spent."

The company’s shareholders are Unibank (66.67%) and European Bank for Reconstruction and Development (33.33%). Unileasing deals with the leasing of cars, construction machinery, industrial equipment, real estate and medical equipment.