BAKU, Azerbaijan, May 13. The committed investment portfolio of the European Fund for Southeast Europe (EFSE) in Azerbaijan as of December 31, 2021, totaled 14.3 million euros, the Fund told Trend.
According to the source, the average volume of investments made per Partner Lending Institution amounted to 7.2 million euros. EFSE lending to Azerbaijan accounted for the rural sector, and small and medium-sized enterprises (SMEs).
As of particular EFSE’s partners in Azerbaijan, the Fund has initially invested 2.2 million euros in Access Bank, and 13.2 million euros in Bank Respublika.
The number of EFSE’s projects in Azerbaijan since inception amounted to 30 of the total of 563 projects of the Fund, which is a 5-percent share.
According to the EFSE, the outstanding portfolio of sub-loans amounted to 900,000 euros, while sub-loans since inception totaled 228.8 million euros.
Meanwhile, EFSE and Bank Respublika signed a loan agreement in February 2022, according to which a loan in the amount of $15 million will be issued to the bank.
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