EBRD allots $6m to Bank Respublika for lending to SMEs
The European Bank for Reconstruction and Development (EBRD) is
opening a $6 million new credit line to Bank Respublika to increase
the availability of financing to private businesses in
Azerbaijan.
The financing will help the bank diversify its funding base and
develop further its portfolio of loans allocated to micro and small
enterprises (MSMEs).
Bank Respublika is the fifth largest bank by assets in Azerbaijan
with a wide national coverage.
The EBRD loan 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 supported Bank Respublika through a number of
loans with the total amount of around $27 million.
Since the beginning of its operations in Azerbaijan, the EBRD has
committed over $1 billion across more than 90 projects in
corporate, financial, infrastructure and energy sectors.*
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!