Baku – The European Bank for Reconstruction and Development (EBRD) is set to introduce new financial products in partnership with AccessBank, aimed at bolstering financing for small and medium-sized enterprises (SMEs) in Azerbaijan.

According to Trend News Agency, Elisabetta Falcetti, EBRD Managing Director for Trkiye and the Caucasus, revealed details about the collaboration during a press briefing. She highlighted the signing of the first Risk Sharing Facility (RSF) agreement in Azerbaijan, a strategic move that will enable EBRD and AccessBank to jointly manage the risks associated with the bank’s key clients. This arrangement is expected to significantly enhance the ability of Azerbaijani SMEs to secure necessary funding for their investment initiatives, innovations, and business expansion efforts.

Falcetti underscored the potential impact of this partnership on AccessBank, noting that the integration of a risk-sharing mechanism from the EBRD could transform the bank’s operational resilience and strength. She also expressed optimism about future projects with AccessBank, hinting at the development of new products that could be implemented through the Azerbaijani bank.

“This is the EBRD’s second collaboration with a banking institution in Azerbaijan,” Falcetti added, indicating plans to extend their engagement further. “We are hopeful of finalizing another credit line with the bank by year-end, which will diversify our cooperation with the nation’s financial sector.” The ongoing efforts mark a continuation of the EBRD’s commitment to enhancing the economic framework in Azerbaijan, having recently sealed a 15 million euro co-financing agreement with AccessBank aimed at supporting local companies.

For more insights on this developing financial partnership, Trend News Agency’s interview with Davit Tsiklauri, Chairman of the Board of AccessBank, provides additional context and details.