Unibank and the Dutch development bank FMO have announced a new phase of cooperation and the signing of a strategic four-year term financing agreement totaling $50 million.
The main goal of the raised financing is to expand lending and support for microenterprises and small and medium-sized enterprises (SMEs). Special attention within the financing will be given to young entrepreneurs, women entrepreneurs, women-led companies, and SMEs operating in the agricultural sector.
The renewed cooperation aims to stimulate economic growth, develop sustainable agriculture, and expand access to financial resources for key business segments, women-led companies, and young entrepreneurs.
Commenting on the renewed cooperation and the signing of the agreement, Valentin Morozov, Chairman of the Management Board of Unibank, noted:
"We are pleased to resume cooperation with our long-standing and reliable partner FMO. The signing of a four-year agreement for $50 million is an important milestone in the development of our bank. The raised funds will allow us to significantly expand the scale of support for micro-business and the agricultural sector, which play an important role in the country's economy. We are confident that our partnership will open new opportunities for entrepreneurs and contribute to the sustainable economic growth of private business in the country."
Juan-Jose Dada, Co-Head of the Investment Department at FMO, noted:
"The renewed partnership with Unibank will help expand access to financing for entrepreneurs and businesses in Azerbaijan, particularly for microenterprises, SMEs, women-led companies, young entrepreneurs, and companies operating in the agricultural sector. Through this $50 million financing, we aim to promote the development of a more inclusive and sustainable private sector and contribute to the long-term economic development of Azerbaijan."
