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, TurkicWorld 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.
