Kreditanstalt für Wiederaufbau Entwicklungsbank (KfW), a state-owned development bank in Germany, has agreed to disburse a loan of USD 30 million to AccessBank, a microfinance institution (MFI) based in Azerbaijan. The loan consists of two equal tranches, with the first having been disbursed on July 16, 2012, and the second to be disbursed on August 15, 2012. AccessBank will use the loan to support the growth of its loan portfolio.
AccessBank was founded in 2002 as the Micro Finance Bank of Azerbaijan (MFBA) and was renamed AccessBank in 2008. As of 2012, AccessBank reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 488 million, a gross loan portfolio of USD 378 million and approximately 120,000 borrowers. As of 2012, KfW Entwicklungsbank has a portfolio of EUR 2.15 billion (USD 2.57 billion).
By Brett Cohen, Research Associate
About AccessBank
AccessBank was founded in 2002 as the Micro Finance Bank of Azerbaijan (MFBA) and was renamed AccessBank in 2008. AccessBank is owned by six organizations: the European Bank of Reconstruction and Development (12.45 percent), an institution owned by 61 countries and two intergovernmental institutions; the International Finance Corporation (12.45 percent), the investment arm of the World Bank Group; the Black Sea Trade and Development Bank (12.45 percent), a financial institution with eleven European member countries; Germany’s KfW Bankengruppe (12.45 percent); Access Microfinance Holding AG (50.1 percent), a commercial microfinance holding company based in Germany; and LFS Financial Systems GmbH (0.1 percent), a German consulting and management company that focuses on microfinance projects. As of 2012, AccessBank reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 488 million, a gross loan portfolio of USD 378 million and approximately 120,000 borrowers.
About KfW Entwicklungsbank
KfW Entwicklungsbank (KfW) is a state-owned development bank in Germany. KfW has three goals: to reduce poverty, to make globalization “fair” and to conserve natural resources. KfW collaborates with local financial institutions in approximately 60 countries, including microbanks, commercial banks, village savings banks, non-governmental organizations and regional microfinance funds. As of 2012, KfW has a portfolio of EUR 2.15 billion (USD 2.57 billion).
Sources and Additional Resources
AccessBank press release: “AccessBank signed a contract for $30 million credit with KfW”
http://abc.az/eng/news/main/66569.html
MicroCapital.org story, March 12, 2012, “MICROCAPITAL BRIEF: Azerbaijan Microfinance Association Mulling Agricultural Credit Guarantee Fund”
https://www.microcapital.org/microcapital-brief-azerbaijan-microfinance-a…
MicroCapita.org story. May 23, 2012, “MICROCAPITAL BRIEF: Grameen Foundation, KfW Bankengruppe, Access Africa Fund Invest in Mobile Microfinance Institution Musoni Kenya”
MicroCapital story, February 7, 2012, “MICROCAPITAL BRIEF: DemirBank of Azerbaijan to Borrow $8m from Microfinance Enhancement Facility, Co-Managed by responsAbility” https://www.microcapital.org/microcapital-brief-demirbank-of-azerbaijan-t…
MicroCapital.org profile: AccessBank
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Acc…
MicroCapital Universe Profile: KfW Entwicklungsbank
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=KfW…
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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