OeEB and the Dutch Development Bank (FMO) have provided a joint credit line of USD 20 million to AccessBank of Azerbaijan for financing loans to micro-enterprises and small and medium-sized enterprises (SME). USD 10 million was financed by OeEB.
Driving force for the economy
AccessBank, owned by several international financial institutions (IFI) and development banks (DFI), is an important strategic partner which provides access to financing for local micro-enterprise and SME customers.
The USD 10 million credit line from OeEB is an important contribution to the diversification of the Azerbaijani economy, which, while it is growing enormously, still has a heavy focus on oil and gas. In the long term, micro-enterprises and SMEs in Azerbaijan can be strengthened, thereby creating jobs.