The European Bank for Reconstruction and Development (EBRD) is providing a $6m credit line to Bank Respublika to increase the availability of financing to micro and small enterprises (MSMEs) across Azerbaijan.
The line aims to help the bank, the fifth largest credit institution by assets in the country, diversify its funding base and develop further its portfolio of MSME credits.
It will be used to finance investments and working capital of local businesses with medium and long-term loans, thus addressing the lack of credit available to micro, small and medium-sized companies in the country.
Previously the EBRD has supported Bank Respublika through a number of loans with the total amount of close to $27m.
FinSMEs
10/12/2009