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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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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