AccessBank and AZZA have signed the first long-term loan agreement under the European Bank for Reconstruction and Development (EBRD) Risk Sharing Facility program. This mechanism allows AccessBank and EBRD to jointly finance small and medium-sized enterprises in Azerbaijan on an equal participation basis (50/50). Their combined efforts will create new opportunities for business development, stimulate investment processes, and improve conditions for entrepreneurs.
As part of the agreement, AccessBank will provide AZZA with a loan of 14 million manats to complete the construction of a new modern manufacturing facility, as well as a grant for the development of the "green economy." This collaboration will accelerate the implementation of environmentally friendly technologies and enhance business resilience in current conditions.
"I would like to express my gratitude to the AZZA team for their commitment and involvement. I am confident that the new production facility, which will be completed and launched next year, will exceed all our expectations. We are proud of the new agreement with the EBRD, aimed at supporting private entrepreneurship in Azerbaijan. All parties are pooling their resources and expertise to achieve common goals. Special attention is being given to the implementation of innovations, improving access to financing, and creating favorable conditions for sustainable business growth. I would also like to highlight that one of the key elements of our cooperation is the support of initiatives in the 'green economy' field, which is becoming an integral part of global trends," said Davit Tsiklauri, Chairman of AccessBank's Management Board.
The cooperation between AccessBank, AZZA, and EBRD will have a significant impact on strengthening the private sector in Azerbaijan, creating new jobs, and supporting sustainable economic growth in the country.
AccessBank, a pioneer in the microfinancing market, has been providing services to small and medium-sized enterprises since 2002. The Bank's shareholders include the Asian Development Bank, the European Investment Bank, the International Finance Corporation, and other international organizations and investment funds. With 35 branch offices, including 14 in Baku and 21 in regions, AccessBank continues to offer accessible financing options for MSMEs. For more detailed information on the branh offices, please follow: http://bit.ly/accessbank-filiallar
For more information on the services provided by AccessBank, call 151 or visit the website at www.accessbank.az. You can also follow the bank's social media accounts on Facebook, Instagram, LinkedIn.
*AccessBank CJSC operates under license No. 245 dated 25 October 2002, issued by the Central Bank of the Republic of Azerbaijan. The bank's Head Office is located at 3 Tbilisi avenue, Yasamal district, Baku city.
