The European Investment Bank (EIB) said Friday that it will be lending 25 million euros to Azerbaijan to support small- to medium-size enterprises (SMEs) throughout the country.
The hope is to invigorate the private sector and to create and sustain more job opportunities.
“SMEs are the backbone of the economy and a major focus for the EIB. It is therefore logical that our first-ever loan in Azerbaijan is for this purpose,” EIB Vice President Wilhelm Molterer said. “We appreciate the professionalism of AccessBank, which makes the bank an excellent partner for the EIB in Azerbaijan,” 

AccessBank President Michael Hoffman had expressed his gratitude in gaining the trust of the EIB in this venture. He said that this was an important project for the bank and for all of Azerbaijan. He also said that it was an honor to be selected as a partner to the EIB in its first lending project to Azerbaijan.