Accessbank: AccessBank CJSC has signed a loan agreement for a USD 75 million multi-currency credit facility, consisting of a USD 40 million committed and USD 35 million uncommitted tranche, with a four-year tenor, partnering with the Dutch entrepreneurial development bank, FMO.
According to Azerbaijan State News Agency, the financing will be used to expand access to finance for SME businesses operating in the agricultural sector, women-led enterprises, young entrepreneurs, and micro, small and medium-sized enterprises (MSMEs) in Azerbaijan. This initiative aims to contribute to greater financial inclusion and sustainable private sector development.
Frouke Hoekstra, Director Financial Institutions at FMO, emphasized the importance of a robust and inclusive financial sector for sustainable private sector development. "Through our partnership with AccessBank, we are helping strengthen the financial infrastructure that entrepreneurs rely on to invest, innovate, and create jobs," Hoekstra noted. This transaction aligns with FMO's 2030 Strategy, supporting the development of resilient local markets to unlock long-term economic growth.
The new facility supports AccessBank's long-term strategy of fostering sustainable economic growth and enhancing access to finance for underserved business segments. This will enable the Bank to further expand its lending portfolio in priority economic sectors and create new opportunities for MSMEs to grow and develop.
AccessBank, since its establishment in 2002, has remained committed to expanding access to finance and supporting sustainable private sector development in Azerbaijan. Its shareholders include leading international financial institutions such as the Asian Development Bank (ADB), the European Investment Bank (EIB), the International Finance Corporation (IFC), among others.
FMO, as a leading impact investor, supports sustainable private sector growth in developing countries by investing in ambitious projects and entrepreneurs. With a proven track record over 55 years, FMO focuses on sectors like Agribusiness, Food and Forestry, Energy, and Financial Institutions, operating in over 85 countries globally.