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- EBRD provides US$20 million loan to AccessBank for youth-owned and -led MSMEs
- First Youth in Business loan in Azerbaijan, supported by the EU through the EFSD+
- Loan to empower young entrepreneurs and boost economic diversification
The European Bank for Reconstruction and Development (EBRD) is extending a loan of up to US$20 million (€17.1 million) to AccessBank, one of the leading Azerbaijani banks focusing on micro, small and medium-sized enterprises (MSMEs).
Under the agreement, AccessBank will channel EBRD funds to youth-owned and -led MSMEs across Azerbaijan, providing much-needed capital to help them grow, innovate and contribute to the country’s economic development.
The loan will also enable AccessBank to reach a strategically important segment of the market, while demonstrating the strong investment case for youth-owned and -led enterprises in Azerbaijan.
The European Union (EU) is supporting the loan through its European Fund for Sustainable Development Plus (EFSD+) Financial Inclusion in the Neighbourhood programme in the form of first-loss risk cover.
This is the first loan under the EBRD’s Youth in Business programme in Azerbaijan, marking a significant milestone in supporting the country’s next generation of entrepreneurs. MSMEs are the backbone of strong economies and supporting youth entrepreneurship is critical to Azerbaijan’s efforts to diversify its economy and strengthen its private sector.
The EBRD’s Youth in Business programme is already active in Central Asia, Egypt, Morocco, Türkiye and the Western Balkans. It is designed to help MSMEs owned or managed by young entrepreneurs access both financial and non-financial services.
The EBRD is a leading institutional investor in Azerbaijan, having invested €3.7 billion through 200 projects in the country. The Bank’s strategy for Azerbaijan focuses on supporting the country’s non-oil sector and local lenders, as well as boosting investment in the green economy.