New BSTDB Facility to Support Small Business Development in Azerbaijan
The Black Sea Trade and Development Bank (BSTDB) provides a USD 15 million 3-year SME credit line to AccessBank (Azerbaijan). The proceeds of the credit line will be on-lent to support the creation, modernization, and expansion of small and medium-sized enterprises (SMEs) s in the manufacturing and agricultural sectors.
“We are pleased to strengthen our cooperation with AccessBank, which was established in 2002 by BSTDB and other development banks. AccessBank is the market leader in SME financing in Azerbaijan. Through this partnership, BSTDB supports a large number of SMEs and contributes to the non-oil private sector business development by offering easier access to capital resources” said Andrey Kondakov, BSTDB President at the loan signing ceremony in Baku.
It is a third credit line that BSTDB extends to AccessBank for SME sector support, bringing the total amount of financing to USD 22 million.
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