EBRD Cooking Up Accessbank-Marketing Goods - Managing Director
Date
9/10/2024 3:09:20 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, September 10. The European
Bank for Reconstruction and Development (EBRD) is working on new
products that may be sold through AccessBank, EBRD Managing
Director for Türkiye and the Caucasus Elisabetta Falcetti told
reporters, Trend
reports.
Falcetti pointed out that this is the first Risk Sharing
Facility (RSF) agreement signed by the EBRD in Azerbaijan.
"This mechanism will allow us and AccessBank to share the risks
of the bank's key clients. As a result, we will significantly
increase access to financing for Azerbaijani SMEs that need loans
to implement their investment programs, innovations, and business
growth," she emphasized.
Falcetti also pointed out that this collaboration will be a
game-changer for AccessBank, as it will bring a whole new level of
strength and resilience by adding a risk-sharing mechanism from the
EBRD.
Talking about future collaboration with AccessBank, the managing
director expressed high hopes for taking their partnership projects
to the next level.
"The EBRD is already working on new products that may be
implemented through AccessBank," she added.
According to her, this is the EBRD's second go-round with a bank
in Azerbaijan.
"We hope to sign another credit line with the bank by the end of
the year, which will further diversify the EBRD's cooperation with
the country's financial institutions," she concluded.
To note, the EBRD and AccessBank have signed a 15 million euro
agreement for co-financing companies in Azerbaijan.
Further details on the topic can be found in the interview with Chairman of the Board of AccessBank
Davit Tsiklauri.
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