BAKU, Azerbaijan, June 17. The European Investment Bank (EIB) continues to support Azerbaijani businesses across various fields, Maciej Czura, Head of the EIB Regional Representation for the South Caucasus, told Trend.
"The EIB has worked with Azerbaijan since 2014. EIB Global follows EU policy objectives, for example, the flagship initiatives of the Economic Investment Plan such as improving access to finance for micro, small, and medium-sized enterprises (MSMEs), with special attention to young entrepreneurs, women in business, and rural development. In the light of this, we signed a 10 million euro loan agreement with Bank Respublika last month," he said.
According to the bank's rep, this operation aims to strengthen small businesses by making loans available to them under favorable conditions. "This operation is part of our MSME Outreach Initiative for the South Caucasus that will help create or sustain jobs, fostering private sector-driven growth and social inclusion in the region".
Maciej Czura further noted that EIB Global stands ready to work with Azerbaijan both in the public and private sectors to finance projects in the priority fields of mutual interest.
"EIB Global’s strategy in the South Caucasus is shaped by the European Union priorities. The recent loan with Bank Respublika furthers the objectives of this plan and is part of our MSME Outreach Initiative for the South Caucasus. The Economic and Investment Plan also includes priority investment projects, and we are discussing their implementation with the government of Azerbaijan," he added.