JSC Access Bank Azerbaijan draws a second line of credit in the amount of approximately EUR 20 million in a partnership with the European Investment Bank (EIB). The first line was opened on July 11, 2014 in the amount of 25 million Euros.
As EIB said, this loan will help the development of small and medium enterprises in Azerbaijan.
Access Bank was founded in 2002 by the Black Sea Trade and Development Bank, the European Bank for Reconstruction and Development, International Finance Corporation, the German bank KfW, the consulting company LFS Financial Systems (Germany) and Access Holding.
The bank specializes in micro, small and medium-sized businesses and provides consumer loans, having an extensive branch network, which employs over 1,800 people.
Fitch Ratings Agency has awarded Access Bank a rating of BB +, which is the highest credit rating among all the banks of Azerbaijan. --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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