Unibank and EBRD relaunched partnership: $10 million support for SMEs in Azerbaijan

European Bank for Reconstruction and Development (EBRD) is providing a loan of up to US$ 10 million to Unibank Commercial Bank OJSC. The loan, which is disbursed in local currency, will be redirected toward financing micro, small, and medium-sized enterprises (MSMEs) in the Republic of Azerbaijan.

This partnership marks not only a renewal of cooperation between EBRD and Unibank but also a significant milestone in the development of the private sector in the Republic of Azerbaijan. The transaction aim is to enhance the competitiveness of local SMEs and expand their access to financial resources through a strong and agile financial intermediary like Unibank.

At the signing ceremony, it was noted that EBRD would also support Unibank in developing its MSME lending strategy, product offerings, and monitoring mechanisms. As part of this process, the implementation of an environmental and social management system at the bank is also planned.

Heybat Gadirov, Deputy Chairman of the Management Board of Unibank, stated:

“Unibank’s cooperation with European Bank for Reconstruction and Development traces back many years, and we are very pleased to restore this productive partnership. At Unibank, we consider the development of the SME sector and the sustainable growth of the national economy among our strategic priorities. This collaboration will enable us to provide greater financial support to entrepreneurs. The raised funds will further strengthen Unibank’s SME lending strategy and contribute to the diversification of the national economy.”

Nataly Mouravidze, EBRD Head of the Republic of Azerbaijan, highlighted:

“We are pleased to reboot our partnership with Unibank, a systemically important financial institution in the Republic of Azerbaijan. Agreements like this are highly valuable for the country’s economy. With this financial package, we are supporting the growth of local businesses and enhancing the lending capacity of the financial sector.”

Source of the news: https://azertag.az/en/xeber/__unibank_and_ebrd_relaunched_partnership_10_million_support_for_smes_in_azerbaijan-3535183

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