Bank Respublika, IFC sign loan agreement to stimulate agriculture

22 May 2020 19:01 (UTC+04:00)

By Ayya Lmahamad

Bank Respublika has signed an agreement with the International Finance Corporation to improve access to loan products for entrepreneurs working in the agricultural sector and further accelerate the lending process, press-service of the bank reports on May 21.

According to the agreement, the bank will implement a new risk management system CLARA, which will expand lending opportunities to agriculture.

The new system will be aimed at developing entrepreneurship in all regions of Azerbaijan in line with the bank's strategic direction.

As part of the cooperation, people working in various fields of agriculture will be able to obtain loans faster and easier by applying to branches of the Bank of the Republic covering all regions of the country.

The expansion of cooperation under the new agreement is an indicator of the success of many projects with IFC.

In accordance with its strategy, the bank contributes to the development of the non-oil sector in industry, agriculture, construction, trade and services by implementing projects that support the population, micro, small and medium enterprises.

Bank Respublika started its activity on May 22, 1992 under the license of the National Bank of Azerbaijan Republic.

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