AccessBank in Azerbaijan has received a $15 million senior loan facility from the European Fund for Southeast Europe in order to support the bank's lending activities to micro and small enterprises in the country's rural regions.
The bank will be able to provide microloans to more than 7,000 customers with the new loan facility.
AccessBank currently leads the market in microfinance in Azerbaijan. The bank has an extensive branch network, experienced staff and approximately 140,000 clients. Most of its microloans are focused in the area of agriculture.
"We are pleased to continue our successful partnership with AccessBank through this new loan facility," Monika Beck, the chairperson of the board of EFSE, said of the development. "With its leading position in microfinance complemented by its strong focus on agricultural lending, AccessBank is a great fit for EFSE to reach out to its target groups in the rural areas of Azerbaijan."
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