One of the largest commercial banks of the country The Republic of the Republic continues successful activities to attract foreign investment for the development of the real sector of the country. So, the bank has signed two major credit agreements with the European Bank for Reconstruction and Development (EBRD) for the development of agro, small and medium-sized businesses in Azerbaijan.
The first loan agreement was concluded within the framework of the AGRAR project AZAFF, funds will be aimed at financing agricultural producers. The second loan agreement was concluded for financing small and medium-sized businesses, including enterprises affected by COVID-19 pandemic. The total amount of dedicated funds is $ 13.5 million, while both loans will be issued in national currency, which will allow local entrepreneurs to avoid currency risks.
This is not the first loan agreement of the Bank with international financial organizations for the current year. In 2021, the Republic of the Republic entered into a loan agreement with the Dutch Development Bank (FMO), as well as with the European Investment Company EMF Microfinance Fund.
“Obtaining another loan from the European Bank for Reconstruction and Development is a continuation of fruitful cooperation with international financial institutions, and this, in turn, part of the implementation of the Bank’s Real Sector Support Strategy, which is a priority for the Republic of the Republic. The signed agreement confirms The high level of confidence in our bank by the leading international financial institutions, “said the Chairman of the Board of the Bank, the Republic of Tariel Ismailov.
“I am glad that EBRD can improve financing for Azerbaijani enterprises, strengthening cooperation with the Bank of the Republic. Our goal is to develop bank lending, promoting the growth of companies, improving productivity and employment.” Said the Director of Caucasus Cavarina Baerlin Hansen. .
For 30 years of its successful activity, the Republic of the Republic was able to win the confidence of its customers and strengthen in the top five of the country’s leading banks. Among the shareholders of the Bank presented the largest financial institutions in Germany – Deg Investment Corporation (member of the KFW and SIDT Banking Group) and Sparkassen International Development Trust (SPARKASSEN-FINANZGRUPPE Financial Group).