AccessBank announced that it raised a loan of U.S. $ 10 million from the company Symbiotics.
As reported in the bank, the loan was granted for a period of 3 years. The proceeds will be directed to lending to micro, small and medium enterprises.
General Manager of AccessBank Michael Hoffmann, commenting on the loan, said: "This important new agreement with our long-standing partner Symbiotics will maintain stable growth in lending to micro, small and medium enterprises, especially in the regions where the Bank continuously expanding its branch network."
The General Director of Symbiotics Roland Dominice said: "We are very proud to contribute to the further development of our long-time partner AccessBank Azerbaijan. Through bonds, we can cooperate with more investors and obsessing markets develop micro-small enterprises, to offer a direct impact on financial institutions in the first tier of emerging economies. "
Symbiotics is the company's mission to contribute to the facilitation of access to capital and economic development at a global level, ensuring openness, social responsibility and sustainability. The company brings together socially responsible investors with micro, small and medium enterprises in low-income countries, by providing innovative investment services. Since that time the Symbiotics, working with a variety of investors, has spent U.S. $ 1.3 billion on the development of about half a million micro, small and medium enterprises through 150 financial institutions in 45 countries with developing economies.
AccessBank's mission is to provide financial services for Azerbaijan's micro and small businesses and families. AccessBank recognized as the most reliable bank in Azerbaijan, the international rating agency Fitch ("BB + outlook - stable"), as well as at the annual awards of Global Finance (2011) and Publishing Group Euromoney (in 2012, 2011 and 2010), named "Best Bank in Azerbaijan" and won The Banker "Bank of the Year" (2011).
The bank is 100% owned by six international financial institutions: AccessHolding, in microfinance as a strategic investor, the European Bank for Reconstruction and Development, International Finance Corporation, the Black Sea Trade and Development Bank, the Development Bank of the German Government - KfW Development Bank, and the German company LFS Financial Systems GmbH. - 15D-
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