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Rabitabank OJSC

Azerbaijan | Financial Institutions

Identification Code:: OP/22/0005
Total Operation Cost:: 10.000.000 USD
Maturity:: 36 months
Operation Status:: BSTDB Approved Amount – Approval Date

10.000.000 USD – 05 May 2022
: BSTDB Signed Amount – Signed Date

-5.000.000 USD – 27 Dec 2022

10.000.000 USD – 24 Jun 2022
: Status:
Active
Description and Purpose of the Operation:: Rabitabank OJSC
Countries of Operation:: Azerbaijan (100,00%)
Financial Product:: SME's
Sector:: Financial Institutions
Domain:: Private
Borrower/Client:: SME Finance Facility to Rabitank
Co-Financers/Participants:: N/A
Guarantors/Sponsors:: N/A
Developmental and Regional Cooperation Impact:: The Project is expected to have modest but favourable economic benefits for the Azerbaijani economy, the most relevant being additional tax revenue gains from increased economic activity under the additional amount provided. 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 likely to be limited or absent at all given the small size of the operation. Other BSTDB countries are important trade partners for Azerbaijan so if any benefitting SME is to export or import, it will likely be with BSTDB member country.
Environmental Classification and Impact:: Overall, the operation will contribute to promoting small and medium businesses in Azerbaijan and positively impact on poverty alleviation, stimulate self-employment, create new jobs and generate revenues.
Operation Leader:: Financial Institutions I
E-mail:: fi1@bstdb.org