The European Bank for Reconstruction and Development (EBRD) is extending the trade finance guarantee facility to Bank Respublika OJSC aimed at supporting small and medium-sized enterprises (SMEs) in Azerbaijan.
The agreement is set to boost the trade of Azerbaijani businesses, and better integrate them into international markets.
EBRD President Odile Renaud-Basso said: “It is great to be here in Baku, signing this agreement in-person with our Azerbaijani partners. I am delighted to support our partner bank in extending trade finance support to businesses across the country. Together, we are promoting foreign trade in Azerbaijan.”
“We are proud to be the main partner bank for the EBRD in Azerbaijan. The partnership with the EBRD has strengthened our capabilities, allowing us to expand financing for micro, small and medium-sized businesses, as well as support trade finance in the country. We are confident that the signing of the 19th contract personally with the President of the EBRD, Ms. Odile Renaud-Basso, will raise our cooperation to a new even higher level in the future”, said Shakir Rahimov, Chairman of the Supervisory Board of the Bank Respublika.
The TFP aims to promote foreign trade to, from and within the EBRD regions and offers a range of products to facilitate this trade, including guarantees and trade-related cash advances. The programme strengthens the ability of local banks to provide trade financing, and through these banks gives entrepreneurs throughout our regions the support they need to increase their access to the import and export trade.
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