The European Bank for Reconstruction and Development (EBRD), a financial institution “owned by 61 countries and two intergovernmental institutions,” is providing a USD 6 million line of credit to Bank Respublika, a private commercial bank in Azerbaijan [1,2,3]. The line of credit will be used by Bank Respublika to provide loans to micro, small, and medium enterprises (MSMEs) in Azerbaijan [1]. The loans will be have both medium and long-term tenors [1]. The EBRD has previously provided loans to Bank Respublika totaling USD 27 million [1]. MicroCapital reported another, more recent, EBRD investment in Azerbaijan in December of 2009; a USD 10 million loan to AccessBank, a microfinance institution (MFI) [4]. The repayment, however, is to be in the AZN value of the loan, the equivalent of over AZN 8 million [4].
By Christopher Maggio, Research Assistant
About:
Bank Respublika
Description:
Bank Respublika is private commercial bank in Azerbaijan. It began operations in 1992. It offers various financial services including “cash and settlement services, various consumer and business loans, deposits, money transfers, documentary transactions, travel checks, safekeeping boxes, [and] remote customer services.” The bank is headquartered in Baku, Azerbaijan. The bank has received financing from both the International Finance Corporation (IFC), the investment arm of the World Bank, and The European Bank for Reconstruction and Development (EBRD), a financial institution “owned by 61 countries and two intergovernmental institutions.” The funds have enabled Bank Respublika to provide loans to micro, small, and medium enterprises (MSMEs).
Bank Respublika does not report to the MIX Market, the microfinance information clearinghouse.
Organization’s Website:
http://www.bankrespublika.az/?lang=en
Just the Facts:
-Country of Incorporation: Azerbaijan
-Year Founded: 1992
-Legal Status: Private Commercial Joint-Stock Bank
-Total Assets: USD 478 million (as of 31/December/08)
-Net Loan Portfolio: USD 312 million (as of 31/December/08)
-Participant(s)/Backer(s)/Investor(s): Investment Company DEG, Sparkassen International Development Trust, European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC)
Contact Information
CONTACTS
General information
Address: 21, Khagani str., AZ1000, Baku, Azerbaijan
Phone: +994 12 144
+994 12 598 08 00
Fax: +994 12 598 08 80
E-mail: info@bankrespublika.
Additional Resources
EBRD press release entitled ‘EBRD new financing for micro and small businesses in Azerbaijan’: http://www.ebrd.com/new/pressrel/2009/091209b.htm
MICROCAPITAL STORY: IFC invests USD 20 million In Bank Respublika Intending to Boost Finance for Azerbaijan’s Businesses: https://www.microcapital.org/microcapital-story-ifc-invests-usd-20-million-in-bank-respublika-intending-to-boost-finance-for-azerbaijans-businesses/
Bibliography:
[1] EBRD press release entitled ‘EBRD new financing for micro and small businesses in Azerbaijan’: http://www.ebrd.com/new/pressrel/2009/091209b.htm
[2] EBRD: http://www.ebrd.com/
[3] Bank Respublika: http://www.bankrespublika.az/?lang=en
[4] MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Extends $10m Synthetic Local Currency Loan to AccessBank of Azerbaijan: http://www.ebrd.com/new/pressrel/2009/091209b.htm
Source Article: EBRD press release entitled ‘EBRD new financing for micro and small businesses in Azerbaijan’: http://www.ebrd.com/new/pressrel/2009/091209b.htm
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