USD 17 million to Support SME Financing in Azerbaijan

News | 11-Jul-2016

The Black Sea Trade and Development Bank (BSTDB) is providing additional funds for small and medium-sized enterprises (SMEs) in Azerbaijan with a USD 17 million loan to AccessBank. The proceeds of the three-year loan will facilitate access to finance for industrial, agricultural and service-related SMEs and will contribute to the increase of non-oil sector business in the country.

This is the fifth facility for SME support, extended by BSTDB to AccessBank, bringing the total amount of financing to USD 54 million since 2005.

Founded in 2002 by BSTDB, EBRD, IFC, KfW Development Bank, the German Consulting Company LFS Financial Systems (LFS) and Access Microfinance Holding AG (2007), AccessBank is currently the leading provider of financial services to micro, small and medium-sized businesses in Azerbaijan.