EBRD and Unibank relaunch partnership to expand MSME finance in Azerbaijan
The European Bank for Reconstruction and Development (EBRD) is providing a loan of up to US$ 10 million (€8.8 million) to Unibank in Azerbaijan in local currency. The proceeds will be lent on to local micro, small and medium-sized enterprises (MSMEs).
The transaction seeks to boost the competitiveness of Azerbaijani businesses by partnering with a robust financial intermediary.
“We’re delighted to relaunch our partnership with Unibank, which is a systemically important bank in Azerbaijan. Agreements like these are great for the economy,” Nataly Mouravidze, the EBRD’s Head of Azerbaijan, said. “With this financial package, we’re supporting the development of local businesses, while also strengthening the lending capacity of the country’s financial sector.”
The EBRD will also help Unibank to develop strategies, products and monitoring processes aimed at improving the efficiency of MSME lending. These measures will include the development of an environmental and social management system.
Find out more
MOST READ
[popular_posts columns_xl=”4″ columns_l=”4″ columns_m=”3″]
