(MENAFN- AzerNews)
Ulviyya Shahin Read more
"Bank Respublika" and the European Investment Bank have signed acredit agreement for a volume of 10 million euros to supportentrepreneurs, Azernews reports.
The European Investment Bank (EIB), responsible for financingactivities outside the borders of the European Union, has signed acredit agreement with "Bank Respublika" in Azerbaijan for a volumeof 10 million euros to support micro, small, and medium-sizedenterprises (MSMEs). This agreement will strengthen financialaccessibility by providing loans to small business entities oncompetitive terms and in local currency, aiming to stimulateinvestments, economic growth, and employment.
This credit is offered within the framework of the EIB'sSouthern Caucasus SME Finance Facility to improve access to financefor SMEs in the region. The initiative will foster competition inthe banking sector and increase the quality and quantity offinancial resources available to small businesses. Additionally, bycreating nearly 26,500 jobs in the South Caucasus region, it willcontribute to growth driven by the private sector and promotesocial integration.
Aligned with the objectives of the European Union's EasternPartnership under the Economic and Investment Plan (EIP), thisagreement contributes to advancing the goals of supporting 25,000small and medium-sized enterprises in Azerbaijan as part of apioneering initiative.
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