IFC supports Bank Respublika with a major green loan at COP29
Bank Respublika Secures a Green Loan of 20 Million USD from IFC
During the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29), the International Finance Corporation (IFC) supported Bank Respublika by providing a substantial loan to finance green projects in Azerbaijan.
Under the agreement, the international financial institution will provide the Bank with a loan in Azerbaijani manats (AZN), equivalent to 20 million USD, with a term of four years. The loan funds will support micro, small, and medium-sized enterprises (MSMEs) and low-income family businesses implementing environmentally friendly technologies and production methods.
This initiative will help create new jobs, enhance social resilience, and make green technologies more accessible to a broader population. Supporting such initiatives will contribute to sustainable economic growth and stimulate regional development, facilitating their integration into global environmental transformation efforts.
Source of the news: https://en.trend.az/business/3973946.html
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