Bank Respublika signs the largest loan agreement among private banks in Azerbaijan
FMO provides Bank Respublika with USD 65 million loan
Bank Respublika, one of the largest commercial banks in Azerbaijan, has signed a landmark loan agreement with the Netherlands Development Bank (FMO). Under the agreement, FMO will provide the Bank with a four-year loan in Azerbaijani manats (AZN), equivalent to USD 65 million.
The funds raised will be allocated to financing the agricultural sector, as well as micro, small, and medium-sized enterprises, including support for young and women entrepreneurs, and the development of green projects in the country.
This transaction represents the largest loan agreement ever concluded by a private bank in Azerbaijan, underscoring the high level of trust that international financial institutions place in Bank Respublika and in the Azerbaijan’s economy.
The new agreement signed between Bank Respublika and FMO - Dutch entrepreneurial development bank – is yet another strong indicator of the confidence international financial institutions have in the reliability of Bank Respublika and the stability of Azerbaijan’s banking system. We extend our sincere appreciation to our partners at FMO, represented by CEO Michael Jongeneel, for almost 20 years of successful cooperation and their continued support in financing our key priorities – green projects, micro, small, and medium-sized enterprises (SMEs), particularly those engaged in the agricultural sector, as well as young and women entrepreneurs. Partnering with such leading international financial institutions as FMO enables us to strengthen our support for the real sector and contribute to the growth of entrepreneurship in Azerbaijan.”said Tariyel Ismayilov, Chairman of the Management Board of Bank Respublika.
Michael Jongeneel, CEO of FMO commented: “At FMO, we believe that access to stable, long-term local currency financing is essential for building resilient financial systems and supporting inclusive growth. This facility with Bank Respublika enables the bank to expand its outreach to micro-entrepreneurs, youth and women-led SMEs, while also supporting green investments, all in Azerbaijani manats. By reducing foreign exchange risk for end borrowers, we help ensure that financing is both accessible and sustainable. We’re proud to continue our longstanding partnership with Bank Respublika and contribute to strengthening Azerbaijan’s entrepreneurial ecosystem and look forward to the joint impact we will achieve.”
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