Bank Respublika Secures EUR 15 Million from Finnfund to Support Green Finance and MSMEs in Azerbaijan

Bank Respublika, one of Azerbaijan’s leading banks and a strong supporter of the country’s real sector development, has signed credit agreement with Finnfund, the Finnish development financier and impact investor.

Under the agreement, Finnfund will provide Bank Respublika with financing equivalent to EUR 15 million in Azerbaijani manat (AZN) for a period of three years. 30% of the total financing will be directed to women, making the investment aligned with the 2X Challenge on gender equality. The transaction marks Finnfund’s first-ever synthetic local currency loan.

The funding will be directed toward supporting Bank Respublika’s key strategic priorities, including financing green projects, expanding access to financial resources for women entrepreneurs, and supporting micro, small and medium-sized enterprises (MSMEs) across Azerbaijan.

The signing of this agreement represents another important milestone in strengthening Bank Respublika’s international partnerships and reflects the continued confidence of international financial institutions in both the Azerbaijani banking sector and Bank Respublika.

Ulla-Maija Rantapuska, Senior Investment Manager at Finnfund, said:  “This investment combines climate action, gender equality and financial inclusion in a highly tangible way. By providing local currency financing to a leading bank focused on MSMEs and green lending, we can help channel funding to underserved segments while supporting Azerbaijan’s transition towards a more diversified and sustainable economy”.

Tariyel Ismayilov, Chairman of the Management Board of Bank Respublika, said: “We highly value the start of our cooperation with Finnfund and view the signing of this agreement as another important step in strengthening our collaboration with international financial institutions. Support from one of Finland’s leading development finance institutions is a recognition of Bank Respublika’s resilience, the effectiveness of our business model, and our commitment to responsible financing principles. The funds attracted under this agreement will enable us to further expand support for entrepreneurs and projects contributing to the sustainable development of Azerbaijan’s economy.”

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