AccessBank signed a credit agreement with Enabling Qapital Ltd

Economy Materials 4 May 2023 15:55 (UTC +04:00)
AccessBank signed a credit agreement with Enabling Qapital Ltd

AccessBank, the leading bank for micro, small, and medium-sized enterprises (MSMEs) in Azerbaijan, has announced the signing of a AZN 17 million loan agreement with Enabling Qapital, a prominent European investment company. This three-year facility is designed to provide continued access to medium-term financing for MSMEs in Azerbaijan, supporting their vital operating activities.

Davit Tsiklauri, Chairman of the Management Board of AccessBank, noted that this agreement will facilitate the Bank to support more entrepreneurs: “I am delighted to join forces with Enabling Qapital on this successful partnership which enables us to continue the much-needed financing to MSMEs in Azerbaijan. This financing is also the first one since 2016 that we signed with the international financial institution and marks the reopening of international capital markets for AccessBank. We are very glad to see the interest of foreign institutional investors in the Azerbaijani financial sector. I would like to thank Enabling Qapital for their cooperation and look forward to further strengthening our collaboration in the future.”

Urmat Imankulov, Regional Manager of Enabling Qapital Ltd, praised AccessBank's contribution to entrepreneurship: "AccessBank plays an important role in Azerbaijan's financial sector by providing crucial support for the country's economic growth through facilitating finance accessibility for MSMEs. Their commitment to impact investing creates opportunities for businesses to grow and contribute to the overall development of the nation."

Enabling Qapital Ltd (EQ) is a leading impact investment advisory company dedicated to a world where investments provide both a financial and social return. With a mission to have a positive economic, social, and environmental impact, EQ currently advises roughly USD 600m in assets within the "EMF Microfinance" and the "Spark+ Africa Fund." The company has 50 team members globally, with offices in Switzerland, Liechtenstein, Kenya, Pakistan, India, Kyrgyzstan, Philippines, Canada, Mexico, and Ecuador.

AccessBank has been a leader in the microfinancing market and has been providing services to small and medium-sized enterprises since 2002. The bank's shareholders include the Asian Development Bank, the European Investment Bank, the International Finance Corporation, and other international organizations and investment funds. With 31 branch offices, including 15 in Baku and 16 in regions, AccessBank continues to offer accessible financing options for MSMEs.

For more information on the services provided by AccessBank, call 151 or visit their website at www.accessbank.az . You can also follow the bank's social media accounts on Facebook, Instagram, LinkedIn

AccessBank CJSC provides its services under license No. 245 dated 25 October 2002, issued by the Central Bank of the Republic of Azerbaijan. The bank's headquarters are located in Baku city, Yasamal district, Tbilisi Avenue 3.