Baku:CB Unibank Azerbaijan and FMO, the Dutch entrepreneurial development bank, have announced the resumption of their collaboration through a strategic Term Facility Agreement valued at $50 million, set to mature in four years.

According to Azerbaijan State News Agency, the primary objective of this financing is to enhance lending support for micro-enterprises and small and medium-sized enterprises in Azerbaijan, with a particular focus on young and female entrepreneurs, as well as SMEs involved in the agricultural sector. This renewed cooperation aims to foster economic growth, promote sustainable agriculture, and increase the availability of financial resources for key business segments in the country.

Valentin Morozov, Chairman of the Management Board of CB Unibank Azerbaijan, expressed satisfaction with the renewed partnership, emphasizing the significance of the agreement in expanding support for micro-businesses and the agricultural sector, which are vital to the national economy. He noted that the partnership with FMO would create new opportunities for entrepreneurs and contribute to sustainable economic growth.

Juan-Jose Dada, Co-Chief Investment Officer at FMO, highlighted that the agreement would enhance access to finance for Azerbaijani entrepreneurs and businesses, particularly benefiting micro-enterprises, SMEs, women-led businesses, young entrepreneurs, and agribusinesses. The $50 million facility is intended to support a more inclusive and sustainable private sector and aid in Azerbaijan's long-term economic development.