Azerbaijan

The International Finance Corporation (IFC) is providing a US$15 million loan to Azerbaijan's AccessBank to increase funding for micro and small businesses in Azerbaijan, supporting job creation and economic development.

Mehti Mustafayev, Director of International Relations and Trade Finance Department of Bank Respublika OJSC, provides a review of the Azerbaijani trade finance industry covering industry environment, market performance and supply and future trends.

The European Bank for Reconstruction and Development (EBRD) is providing additional funds for loans to small businesses with a loan of up to US$ 10 million to AccessBank Azerbaijan, allowing for a diversification of the bank s funding base.

Azerbaijan s Turan Bank is to strengthen its risk-management practices and develop new financial products for SMEs with the help of World Bank Group member, IFC.

Turan Bank receives US$7 million form IFC to expand SME financing

Azerbaijani commercial banks trade finance has kept on growing, while factoring volumes have decreased in January-March 2011.

In September, the Azerbaijani commercial banks guarantees and factoring volumes diminished whereas letters of credit usage grew.

This year Azerbaijani commercial banks lowered factoring operations

Azerbaijan commercial banks increased their factoring operations

The Central Bank of Azerbaijan experienced a significant increase in factoring operations this October, with volumes reaching