Financed ProjectsTuranbank SME

Identification Code:

OP/19/0043

Total Operation Cost:

10.000.000

Maturity:

24 months

Operation Status:

Description and Purpose of the Operation:

Turanbank SME

Countries of Operation:

Azerbaijan (100,00 %)

Financial Product:

SME's

Sector:

Financial Institutions

Domain:

Private

Borrower/Client:

Local Currency SME Facility to Turanbank

Co-Financiers/Participants:

N/A

Guarantors/Sponsors:

N/A

Developmental and Regional Cooperation Impact:

The Project is expected to have modest but favourable economic benefits for the Azerbaijani economy, the most relevant being additional tax revenue gains from increased economic activity under the additional amount provided. In addition, the additional amount provided will help further enhance benefits such as increases in employment, increase in export capacity and competitiveness, and multiplier effects for other parts of the economy. The regional cooperation element is likely to be limited or absent at all given the small size of the operation. Other BSTDB countries are important trade partners for Azerbaijan so if any benefitting SME is to export or import, it will likely be with BSTDB member country.

Environmental Classification and Impact (summary):

Turanbank has the necessary environmental and social management system in place, considering that it employs the appropriate staff, to efficiently deal with risks and impacts that potentially may arise from export-import transactions, and therefore meets the BSTDB’s environmental and social assessment requirements towards financial intermediaries.

Operation Leader:

Financial Institutions I

E-mail:

fi1@bstdb.org