BAKU – The European Bank for Reconstruction and Development (EBRD) has revitalized its Risk-Sharing Facility (RSF) by forging a partnership with AccessBank, aimed at amplifying financial support for small and medium-sized enterprises (SMEs) in Azerbaijan.
According to Trend News Agency, the EBRD and AccessBank have jointly committed up to £15 million each to the RSF, designed to facilitate and expand AccessBank’s loan offerings by sharing up to 50% of the risk on loans extended to local businesses. This strategic initiative targets SMEs that typically struggle to secure financing, ultimately enabling them to access necessary capital for growth and operational sustainability.
The partnership was marked by a signing ceremony at AccessBank’s headquarters, attended by Elisabetta Falcetti, EBRD Managing Director for Turkey and the Caucasus, and David Tsiklauri, Chairman of the Management Board of AccessBank. Falcetti highlighted the significance of the relaunch, noting the dual benefits of increasing financing availability to Azerbaijani businesses and enhancing AccessBank’s funding strategies and SME financing capabilities.
The RSF, part of the EBRD’s Small Business Initiative, plays a crucial role in promoting private sector expansion by sharing risks associated with SME lending, thereby fostering entrepreneurship and broader economic growth. To date, the EBRD has engaged with 42 financial institutions under the RSF program, facilitating over 425 sub-loans valued at more than £1.07 billion.
AccessBank, known for its commitment to supporting Azerbaijan’s SME sector since 2002, stands to benefit significantly from this collaboration. The agreement not only bolsters its lending capacity but also positions it to refine its funding sources and balance sheet maturity, making it competitive against larger banking entities.
The EBRD remains a pivotal economic player in Azerbaijan, with investments exceeding £3.7 billion across 190 projects, underscoring its commitment to the country’s economic diversification and development.