EIB to allocate another loan to Azerbaijan’s AccessBank

Business Materials 5 July 2016 12:29 (UTC +04:00)

Baku, Azerbaijan, July 5

By Azad Hasanli – Trend:

The European Investment Bank (EIB) plans to open the second credit line in the amount of 20 million euros for Azerbaijan’s AccessBank.

The loan is meant for financing of small and medium-sized enterprises in Azerbaijan, says the EIB message posted on its website.

The first loan in the amount of 25 million euros was allocated to AccessBank in 2014. This credit line also aimed at facilitating the access of small and medium-sized enterprises to long-term financing and supported the development of the private sector.

The EIB obtained the opportunity of implementing lending operations in the country after the conclusion of a framework agreement with the Azerbaijani government on Jan. 15, 2014.

AccessBank was created in 2002.