Project detail - CJSC ACCESSBANK (AZERBAIJAN)

CJSC ACCESSBANK (AZERBAIJAN)

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Who is our client

AccessBank Azerbaijan was founded in 2002 by BSTDB, EBRD, IFC, KfW and the German consulting company LFS Financial Systems (LFS). AccessBank concentrates on lending to micro-, small- and medium-sized businesses. The bank operates through 37 branches across Azerbaijan and employs 1,565 staff. AccessBank is rated BB+ by Fitch Ratings, the highest rating of any bank in Azerbaijan

Funding objective

FMO arranged a US$60 million syndicated loan facility for AccessBank. Other lenders under the FMO syndicated loan facility are OeEB, the Austrian Development Bank, and PROPARCO, the French Development Bank, who all joined the deal as participants. The transaction is the largest refinancing package AccessBank has received from an international lender consortium in its ten years history.

Why we fund this project

The loan will support AccessBank in further expanding its lending activities to micro and small businesses. Through its extensive branch network the bank expects to distribute large portions of the attracted funds to regional businesses, particularly in rural areas, thereby supporting job creation and economic development in these regions of the country.

More investments

Date Total FMO financing
6/19/2014 USD 20.00 MLN
6/19/2014 USD 30.00 MLN
Website client
http://www.accessbank.az
Region
Europe & Central Asia
Country
Azerbaijan
Sector
Financial Institutions
Signing date
6/11/2013
Total FMO financing
USD 25.00 MLN
Fund
FMO
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
B