BAKU, Azerbaijan, September 10. AccessBank's collaboration with the European Bank for Reconstruction and Development (EBRD) through a new risk-sharing mechanism is set to expand the bank's ability to attract business, AccessBank Chairman David Tsiklauri told media, Trend reports.
"We have signed a risk-sharing agreement with EBRD, and we have worked on it for quite some time. I am very grateful to both teams—EBRD and AccessBank—for making this agreement a reality. This agreement will allow EBRD to participate in sharing some of the risks directly. When I say 'participate in risks directly,' I mean that if we provide a loan to an Azerbaijani company, EBRD will also have the opportunity to participate in that loan," Tsiklauri stated.
He emphasized that the functionality of this mechanism enhances the bank's capacity to solicit business.
"We expect to make effective use of this credit line. It will allow us to attract even more clients to AccessBank and potentially offer larger loan amounts," the chairman added.
Tsiklauri wrapped up by emphasizing that the signing of this agreement is a real game-changer, and now the bank's job is to hit the ground running and make the most of this opportunity..
Earlier, EBRD and AccessBank signed a 15 million euro agreement for joint financing of companies in Azerbaijan.
For the full scoop, we recommend reading the interview with AccessBank Chairman David Tsiklauri.