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AccessBank SME II Finacing

Azerbaijan | Financial Institutions

Identification Code:: OP/06/0614
Total Operation Cost:: — USD
Maturity:: 60 months
Operation Status:: BSTDB Approved Amount – Approval Date

4.000.000 USD – 16 Jun 2007
: BSTDB Signed Amount – Signed Date

4.000.000 USD – 04 Mar 2008
: Status:
Completed
Description and Purpose of the Operation:: The Facility is used by Access Bank exclusively for the purpose of financing sub-loans to eligible micro, small and medium sized companies in Azerbaijan. Access Bank is an existing BSTDB financial intermediary in Azerbaijan. BSTDB also owns 20% shares in the bank and is represented in the Board of Directors.
Countries of Operation:: Azerbaijan (100,00%)
Financial Product:: SME's
Sector:: Financial Institutions
Domain:: Private
Borrower/Client:: Access Bank is a rapidly developing microfinance institution, and succeeded in five years since its establishment in October 2002 to build a solid reputation in the Azeri banking system. It is among the main providers of loans to micro and small enterprises in Azerbaijan, thus supporting the private sector development and new jobs creation in the country.
Co-Financers/Participants:: —
Guarantors/Sponsors:: —
Developmental and Regional Cooperation Impact:: The SME Loan Facility will enhance the financing options for micro, small and medium-sized companies in Azerbaijan and complement BSTDB's Trade Finance program by BSTDB in Azerbaijan. Moreover, BSTDB will support one of its existing associates by providing access to increased funding to finance the Access Bank’s growing loan portfolio. In the course of its existence, the bank has already proven its ability to perform and yet needs additional funding for further development. The project will also demonstrate viability of providing longer term funding to Azerbaijan's developing small and medium enterprise sector.
Environmental Classification and Impact:: By virtue of its shareholding in the bank, BSTDB has already enforced compliance with its environmental policies. In addition, environmental policies pursued by MFBA comply with the requirements of other IFIs, such as the EBRD, the IFC and KFW, as well as domestic legal requirements. By means of legal documentation for the Facility, MFBA will be further required to follow the BSTDB and the Republic of Azerbaijan standards and norms with respect to environmental protection and human health and safety.
Operation Leader:: Financial Institutions I
E-mail:: fi1@bstdb.org