German Investment Corp. eyes to expand portfolio in Azerbaijan’s economy
German Investment Corporation (DEG) eyes to expand portfolio in various growing sectors of Azerbaijan’s economy, DEG told Trend.
“DEG has been operating in Azerbaijan since the early 2000s and has financed investments in the local financial and manufacturing sectors. Currently DEG is looking to expand its existing portfolio in various growing sectors of the economy, e.g. trade and services. One example: We are providing a long-term loan totalling EUR 5 million to Araz Supermarkets LLC. Araz will use the loan proceeds to build a central distribution centre to the north of the country’s capital Baku and to expand its warehouse capacity from 12,600 m2 to 42,600 m2. It also plans to install a cold-storage facility for fresh and frozen products and a bakery at the same location. Consumers in Azerbaijan will soon be able to benefit from an improved range of retail products,” said the Corporation.
DEG said that as an experienced financing partner for private entrepreneurs in emerging markets, it supports sustainable business growth with long-term debt and equity financing.
“Traditionally, DEG has a broad expertise across financial institutions, corporate and project finance. It also supports local businesses in connecting with the German market and German investors becoming active in the country,” said the Corporation.