Local AccessBank unit will invest $ 15 million in loans to small and medium businesses.
That is the amount he raised in the framework of cooperation with the Black Sea Trade and Development Bank, said in the statement of BSBTD.
"Credit funds will be used to finance projects in Azerbaijan to modernize, expand production capacity, diversification of products and services for industrial, agricultural and industrial enterprises of small and medium-sized businesses, as well as working capital requirements," it is noted in the official material.
AccessBank Azerbaijan and BSBTD have been collaborating since 2005. In the years 2005-2014 BSBTD provided AccessBank loans totaling $ 37 million.
AccessBank has been operating in Azerbaijan since 2002. AccessBank shareholders are the European Bank for Reconstruction and Development, International Finance Corporation, the Black Sea Trade and Development Bank, Germany's KfW, Access Holding, and LFS Financial Systems GmbH.
BSBTD was founded in January 1997 to support the economic development of Black Sea countries and the strengthening of regional cooperation. Its founders and shareholders are the governments of 11 countries, including Azerbaijan, Russia, Turkey, Ukraine and Georgia. Azerbaijan's share in the bank's capital is 5%. - 17D-
Economics
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