Baku. 28.09.2023. AccessBank, the leading bank for micro, small, and medium-sized enterprises (MSMEs) in Azerbaijan, has announced the signing of a AZN 8.5 million senior loan agreement with Enabling Qapital, a prominent European investment company. This three-year facility is designed to provide continued access to medium-term financing for MSMEs in Azerbaijan, supporting their vital operating activities.
Davit Tsiklauri, Chairman of the Management Board of AccessBank, said: “We are very pleased to continue our partnership with Enablig Qapital. This is the second loan this year and it will allow AccessBank to expand its financing of Micro & SME businesses with a special focus on regions to further strengthen competitiveness and business inclusion across Azerbaijan. I would like once again to thank Enabling Qapital for their cooperation and hope for further strengthening our collaboration in the near future.”
Enabling Qapital Ltd (EQ) is a leading impact investment advisory company dedicated to a world where investments provide both a financial and social return. With a mission to have a positive economic, social, and environmental impact, EQ currently advises roughly USD 600m in assets within the "EMF Microfinance" and the "Spark+ Africa Fund." The company has over 50 team members globally, with registered offices in Switzerland, Liechtenstein, Luxembourg and Kenya, and a strong presence in multiple countries spanning Eastern Europe, Africa, Asia, and Latin America.
AccessBank has been a leader in the microfinancing market and has been providing services to small and medium-sized enterprises since 2002. The bank's shareholders include the Asian Development Bank, the European Investment Bank, the International Finance Corporation, and other international organizations and investment funds. With 32 branch offices, including 14 in Baku and 18 in regions, AccessBank continues to offer accessible financing options for MSMEs.
For more information on the services provided by AccessBank, call 151 or visit their website at www.accessbank.az . You can also follow the bank's social media accounts on Facebook, Instagram, LinkedIn
*AccessBank CJSC provides its services under license No. 245 dated 25 October 2002, issued by the Central Bank of the Republic of Azerbaijan. The bank's headquarters are located in Baku city, Yasamal district, Tbilisi Avenue 3.
Finance
-
The Accounting Chamber has revealed shortcomings in the Baku State University and the Azerbaijan State Academy of Physical Culture and Sport.
-
In 2023, the salary costs of employees of the State Oil Fund of Azerbaijan (SOFAZ) amounted to 9.8 million manats. This is stated in the financial statements of the Fund, which were audited at the end of the last year.
-
Azerbaijan's justified state budget expenditures totalled AZN 4,948 million in the first half of 2024.
-
As of the end of June 2024, credit unions in Azerbaijan had a balance sheet capital of AZN 9.1 million. This is stated in the credit union review published by the Central Bank of Azerbaijan.
Leave a review