USD 10 mio
Region: Eastern Europe & CIS
Sector: Financial Services
Financial instrument: Direct Investments
Financial intermediary: AccessBank Azerbaijan
The limited access to finance constitutes a major impediment to private sector growth in Azerbaijan, particularly for MSMEs. By targeting the typically underserved MSMEs, AccessBank supports their sustained growth which in turn positively impacts the development of competitive sectors such as trade, services and production, as well as generates employment. The Bank’s micro, small and medium loans made up more than 85% of the total loan portfolio in 2014.
In 2007 SIFEM invested USD 6.0 million as a Senior Loan to AccessBank, which was fully repaid in 2013. In 2014 SIFEM invested USD 10.0 million as a subordinated Loan to AccessBank which was converted into equity in the course of a restructuring of the bank in March 2019.