MFBA GETS ANOTHER STOCKHOLDER
The German bank Kreditanstalt fuer Wiederaufbau - KFW will be the fifth stockholder of the Azerbaijan Microfinance Bank /MFBA/. Thus, the authorized capital stock of the MFBA will increased as much as $6,85 million. The MFBA is expected to start servicing money savings and open its branch in Ganja. The MFBA has recently allotted its 5000th credit.
The MFBA was founded in October 2002. At the moment, it has four stockholders - International Finance Corporation (35 percent), European Bank for Reconstruction and Development (25 percent), Black Sea Trade and Development Bank (25 percent) and consulting company LFS (5 percent). The authorized capital stock of the bank is $5 million.
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