01.10.2024. AccessBank, committed to providing innovative financial solutions to the needs of its clients, and the European Bank for Reconstruction and Development (EBRD) have signed an agreement under the Trade Facilitation Programme (TFP). This strategic initiative is designed to support international trade operations and enhance the financial capabilities of businesses across Azerbaijan.
The agreement marks a significant partnership, aimed at facilitating international trade operations and providing companies involved in international trade with access to additional financial resources. Through the programme, businesses will benefit from guarantees and financing that help reduce risks and streamline trade transactions, ultimately enabling them to manage operations more efficiently and expand their reach into global markets.
Davit Tsiklauri, Chairman of the Board of AccessBank, commented: “We are proud to sign this agreement with the EBRD and to have AccessBank participate in the Trade Facilitation Programme. This significant initiative provides our clients with more competitive and innovative financial solutions, aiding the development of import-export activities and supporting the overall economic growth of Azerbaijan.”
The Trade Facilitation Programme agreement will not only strengthen AccessBank’s ability to offer comprehensive financial services, but also provide businesses in Azerbaijan with tools needed to engage more effectively in international trade, reducing barriers and fostering economic development.
Launched in 1999, the EBRD’s Trade Facilitation Programme promotes foreign trade to, from, and among EBRD countries. Through the programme, the EBRD provides guarantees to international confirming banks and short-term loans to selected banks and factoring companies for on-lending to local exporters, importers, and distributors.
Founded in 2002, AccessBank is a leading commercial bank in Azerbaijan, specializing in the support of small and medium-sized enterprises (SMEs). With the focus on providing affordable and accessible financial services, the bank plays a pivotal role in driving local businesses growth and strengthening the country's economy.
The EBRD, the largest institutional investor in Azerbaijan, has invested over €3.7 billion in 190 projects. Its mission is to support the country’s economic diversification and foster sustainable development.