Azerbaijan: EFSE to provide USD 15 million to Bank Respublika to support agribusinesses

Azerbaijan: EFSE to provide USD 15 million to Bank Respublika to support agribusinesses

February 1, 2022

The European Fund for Southeast Europe (EFSE) has partnered with Bank Respublika in Azerbaijan, by providing the equivalent of USD 15 million in Azerbaijani manat. 

This funding will support the provision of sustainable financing to micro and small enterprises (MSEs) that conduct their core business operations in rural areas or are engaged in agriculture. 

Not only will this new loan facility provide longer-term funding to the fund’s key client groups but having it in local currency ensures that entrepreneurs are safeguarded from the ups and downs of currency fluctuations which is vital for sustainable economic growth,” said EFSE Board Chairperson, Klaus Müller.

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