Financed ProjectsAccess Bank of Azerbaijan Equity

Identification Code:

OP/00/0179

Total Operation Cost:

142.649.984

Maturity:

0 months

Operation Status:

Description and Purpose of the Operation:

BSTDB is one of the founding shareholders of Access Bank Azerbaijan, and holds 20% of the shares. Other MFBA shareholders are: IFC (20%), KfW (20%), EBRD (20%), Access Holding (16.53%) and LFS (the management company of Access Bank) (3.47%).

Countries of Operation:

Azerbaijan (100,00 %)

Financial Product:

Equity Investments

Sector:

Financial Institutions

Domain:

Private

Borrower/Client:

Access Bank is a rapidly developing microfinance institution, and succeeded since its establishment in October 2002 to build a solid reputation in the Azeri banking system. It is among the main providers of loans to micro and small enterprises in Azerbaijan, thus supporting the private sector development and new jobs creation in the country.

Co-Financiers/Participants:

Guarantors/Sponsors:

Developmental and Regional Cooperation Impact:

BSTDB's investment in MFBA's capital is in line with the BSTDB's Country Strategy for Azerbaijan, as it refers to providing equity to a financial institution that strongly supports the SME sector in Azerbaijan.

Environmental Classification and Impact (summary):

By virtue of its shareholding in the bank, BSTDB has already enforced compliance with its environmental policies. In addition, environmental policies pursued by MFBA comply with the requirements of other IFIs, such as the EBRD, the IFC and KFW, as well as domestic legal requirements.

Operation Leader:

General Industries, Transport, Tourism 2

E-mail:

gitt2@bstdb.org