BAKU, Azerbaijan, Aug.16
By Zeyni Jafarov – Trend:
The European Bank for Reconstruction and Development (EBRD) has approved the allocation of two loans to Azerbaijan’s Bank Respublika for lending to the local private agricultural micro-, small and medium-sized enterprises (SMEs), Trend reports on Aug.16 citing the EBRD.
According to the EBRD, the size of the first loan is $9.5 million, and the second - $4 million.
The deal between the two financial institutions will support Bank Respublika in expanding its portfolio for lending to businesses and access of borrowers to finance with an accent on regional customers.
According to the EBRD, this step will support the Azerbaijani bank in the diversification of funding sources for medium-term resources and the growth of the client portfolio in the agricultural sector.
The European bank is the leading investor in Azerbaijan and as to date has invested nearly 3.3 billion euro in various areas: energy, infrastructure, banking, industry and trade. The EBRD also provides consulting services to the local SMEs.
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