“Rabitabank” OJSC has secured USD 7 million in financing through cooperation with international investment company “Enabling Qapital”, aimed at expanding access to finance for micro, small and medium-sized enterprises (SMEs).
The facility is intended to support the financing needs of entrepreneurs operating in the micro and SME segment, promote their sustainable growth, and contribute to the development of the real sector and broader economic activity.
Under the new financing facility, the funds are expected to enhance access to credit for micro and small businesses, support their working capital and investment needs, and promote new business initiatives and employment generation. The funding will also create additional opportunities for business expansion, increased production and service capacity, and the implementation of new investment projects. In addition, to strengthen protection for both the Bank and entrepreneurs against foreign exchange risks, the funds will be on-lent to entrepreneurs in local currency (Azerbaijani manat) through the hedging mechanism provided by the Central Bank of Azerbaijan.
Commenting on the agreement, Chairman of the Management Board of Rabitabank, Mr. Aydın Hüseynov, noted that pursuant to the Decree of the President of the Republic of Azerbaijan dated April 21, 2016, April 25 is celebrated annually as Entrepreneurs’ Day in Azerbaijan. He emphasized that the agreement is particularly important in expanding access to finance for micro, small and medium-sized enterprises, while also supporting job creation. He further highlighted that supporting micro and small businesses plays a vital role in fostering inclusive economic growth, stimulating business activity across the regions and creating new employment opportunities. In this context, the newly secured funding facility is viewed not only as an important milestone for the Bank, but also as a strategically significant financing agreement contributing to the development of Azerbaijan’s real sector as a whole.
The financing facility from Enabling Qapital, a FINMA-regulated, leading Swiss impact asset manager, further reinforces Rabitabank’s standing as a trusted counterparty for international investors, while underscoring the Bank’s commitment to sustainable and responsible finance.
For Rabitabank, the agreement represents another significant step in broadening cooperation with international financial institutions, mobilizing external resources for the real economy, and further supporting entrepreneurship financing.
Founded in 1993, Rabitabank OJSC provides modern and accessible financial services to its customers under its “Comfortable Banking” concept. The Bank’s charter capital stands at AZN 101.3 million. Through its extensive branch network, digital banking solutions and professional team, Rabitabank continues to deliver value-driven financial services to its customers. The Bank’s principal shareholders are Zakir Nuriyev, President of the Azerbaijan Banks Association, and businessman and entrepreneur Rauf Zeynal Aliyev. He is the son of well-known businessman Zeynal Hajimammad Aliyev.
Currently, “Rabitabank” OJSC provides a broad range of banking services to its customers in line with the highest modern standards through a network of 31 service points across 19 regions and Baku, 78 ATMs, the Rabita Mobile, Rabita Junior and Rabita Business applications, its Internet Banking platform, and the 133 Call Center.
About Enabling Qapital
Enabling Qapital Ltd. (EQ) is a FINMA-regulated, leading Swiss impact asset manager dedicated to a world where investments generate financial, social, environmental, and economic returns.
With over USD 900 million under management, Enabling Qapital invests through private debt and listed bonds, pursuing strategies focused on microfinance, access to energy /clean cooking as well as emerging market bonds.
The team consists of over 65 members, speaking more than 21 languages and representing 14 nationalities.
Enabling Qapital is moving money to meaning.
For more information: Rabitabank OJSC
This article was written in cooperation with Rabitabank OJSC
Source:
www.jpost.com
