CB Unibank Azerbaijan and FMO, the Dutch entrepreneurial development bank, have announced a new stage in their business relations and the signing of a strategic Term Facility Agreement for a total amount of USD 50 million with a maturity of 4 years.
The main goal of the raised financing is to expand lending and support micro-enterprises, as well as small and medium-sized enterprises, especially young and female entrepreneurs, and SMEs active in the agricultural sector (agri-SMEs). The resumption of this cooperation aims to stimulate economic growth, develop sustainable agriculture, and increase the availability of financial resources for key business segments, women led businesses and young entrepreneurs.
Commenting on the renewal of the collaboration and the signed agreement, the Chairman of the Management Board of CB Unibank Azerbaijan, Mr. Valentin Morozov, noted:
"We are pleased to resume cooperation with our long-standing and reliable partner, FMO. The signing of this four-year agreement for USD 50 million is an important milestone in the development of our bank. The attracted funds will allow us to significantly expand the scale of support for the micro-business and agricultural sectors, which play a crucial role in the country's economy. We are confident that our partnership will open up new opportunities for entrepreneurs and contribute to the sustainable economic growth of private business in the country."
Juan-Jose Dada, Co-Chief Investment Officer at FMO, said:“Renewing our partnership with Unibank will help expand access to finance for Azerbaijan’s entrepreneurs and businesses, particularly micro-enterprises, SMEs, women-led businesses, young entrepreneurs, and companies active in the agricultural sector. Through this USD 50 million facility, we aim to support a more inclusive and sustainable private sector and contribute to long-term economic development in Azerbaijan.”
About Unibank: Unibank is one of Azerbaijan’s leading private commercial banks. Founded in 1992 and headquartered in Baku, Unibank provides a broad range of retail, corporate and investment banking services. The Bank has been at the forefront of digital innovation in Azerbaijan and launched Leobank, the country’s first mobile-only bank, in 2021.
For more information: https://unibank.az
About FMO: FMO is the Dutch entrepreneurial development bank. As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development and has a 55+ year proven track record in empowering entrepreneurs to make local economies more inclusive, productive, resilient and sustainable. FMO focuses on three sectors that have high development impact: Agribusiness, Food & Forestry, Energy, and Financial Institutions. With a total committed portfolio of EUR ~16 billion spanning over 85 countries, FMO is one of the larger bilateral private sector development banks globally. For more information: please visit www.fmo.nl
