JSC Access Bank will receive an additional credit line from the European Investment Bank (EIB).
According to the report of the European investor, it is the second tranche in the amount of 20 million Euros. The goal is to credit private small and medium enterprises in Azerbaijan. The funds are allocated unanimously because Access Bank is a leading local financial institution that funds relatively small businesses.
JSC Access Bank with a capital of AZN 85 million was founded on October 29, 2002. Its founders are 100% foreign financial institutions: Black Sea Trade and Development Bank, the European Bank for Reconstruction and Development, International Finance Corporation, KfW Development Bank of Germany (20%), Access Microfinance Holding AG (16.53%), and LFS Financial Systems GmbH (3.47%). --17D-
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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