OREANDA-NEWS. August 21, 2012. AccessBank has signed a USD 10 million loan agreement with the European Bank for Reconstruction and Development (EBRD) for five years. This senior loan will allow AccessBank to diversify its funding base and provide additional financing to small businesses. The funds involved from EBRD will help AccessBank Azerbaijan in expanding its MSME (micro, small and medium-sized enterprises) lending portfolio in the regions outside of Baku with a particular focus on agricultural lending. In addition the provision of longer tenor financing will strengthen AccessBank’s balance sheet and business model by improving the diversification and maturity of funding.

This is the second deal that has been closed with EBRD this year following the USD 15 million transaction concluded between EBRD and AccessBank in April. AccessBank also directed these funds to finance micro and small businesses in the country.