Financed ProjectsAzer-Turk Bank, SME 2

Identification Code:

OP/12/0035

Total Operation Cost:

0

Maturity:

60 months

Operation Status:

Description and Purpose of the Operation:

The SME Facility will support Azer-Turk Bank’s activities in financing eligible SMEs in Azerbaijan. Through Azer-Turk Bank, BSTDB will be able to reach a larger number of SMEs and thus contribute to the job creation, income generation and increased trade turnover between BSEC countries.

Countries of Operation:

Azerbaijan (100,00 %)

Financial Product:

SME's

Sector:

Financial Institutions

Domain:

Private

Borrower/Client:

OJSC Azer-Turk Bank

Co-Financiers/Participants:

Guarantors/Sponsors:

Developmental and Regional Cooperation Impact:

The Project is expected to have favorable economic benefits for the Azerbaijani economy from increased economic activity. Furthermore, it will contribute to an increase in employment, export capacity and competitiveness, and multiplier effects for other parts of the economy. Other BSTDB countries are important trade partners for Azerbaijan so to the extent that SMEs are benefiting from the financing of the operation, they will contribute to the regional cooperation.

Environmental Classification and Impact (summary):

The Borrower will remain compliant at all times with local and BSTDB EHS requirements, including the Negative List. Also the Borrower will undertake environmental assessment of its sub-loans with high and medium risk and ensure their monitoring, and submit annual EHS performance reports to BSTDB.

Operation Leader:

Financial Institutions I

E-mail:

fi1@bstdb.org