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Accessbank SME 4

Azerbaijan | Financial Institutions

Identification Code:: OP/14/0008
Total Operation Cost:: 15.000.000 USD
Maturity:: 36 months
Operation Status:: BSTDB Approved Amount – Approval Date

15.000.000 USD – 21 Jun 2014
: BSTDB Signed Amount – Signed Date

15.000.000 USD – 22 Jun 2014
: Status:
Completed
Description and Purpose of the Operation:: Accessbank SME 4
Countries of Operation:: Azerbaijan (100,00%)
Financial Product:: SME's
Sector:: Financial Institutions
Domain:: Private
Borrower/Client:: From the establishment AccessBank has focused on providing the highest quality of banking services to its Azerbaijan community. Based on a foundation of integrity, transparency, and good business principles, the Bank has been able to establish itself as a leader in providing the best banking services and innovating new banking products for customers. AccessBank's reputation as a reliable and dynamic financial organization has led to not only high customer satisfaction, the most important goal of the bank, but also international recognition as a leading financial institution.
Co-Financers/Participants:: —
Guarantors/Sponsors:: —
Developmental and Regional Cooperation Impact:: The Project is expected to have modest but favorable economic benefits for the Azerbaijani economy, the most relevant being additional tax revenue gains from increased economic activity under the additional amount provide. In addition, the additional amount provided will help further enhance benefits such as increases in employment, increase in export capacity and competitiveness, and multiplier effects for other parts of the economy. The regional cooperation element is similarly expected to be modest. Other BSTDB countries are important trade partners for Azerbaijan so to the extent SMEs benefiting from financing from the operation engage in export activities, there will be regional cooperation benefits.
Environmental Classification and Impact:: Financing through Financial Intermediaries (FIs) implies certain Environmental, Health and Safety (EHS) risks, and are associated mainly with the capability of the FI to properly identify, assess and mitigate these risks according to the requirements specified in the BSTDB Operations Manual. AccessBank is an existing Client of the Bank and the gained experience in terms of EHS performance has been a positive one. The Borrower has developed appropriate Environmental Policy and Procedures in line with BSTDB requirements and has integrated these in its credit/investment appraisal and monitoring process. The assessment of its portfolio shows that the Borrower is not engaged in financing activities which are deemed illegal in Azerbaijan, as well as activities stipulated in the BSTDB Environmental and Social Exclusion List.
Operation Leader:: Financial Institutions I
E-mail:: fi1@bstdb.org