Azerbaijan’s leading microfinance bank, AccessBank, received $10 million through MSME Bonds, Symbiotics’ impact bond issuance platform, on November 20, 2012. “We are very proud to contribute to the further development of our long standing partner AccessBank Azerbaijan,” stated Roland Dominicé, CEO of Symbiotics. “With MSME Bonds, we are able to access more traditional investors and offer them the opportunity to get direct exposure to first tier financial institutions in emerging economies, capturing the growth of their micro and small enterprise market.”
AccessBank is the leading provider of financial services to micro-, small and medium- sized enterprises in Azerbaijan. It has the highest credit rating of all banks in the country. The bond offers three-year financing to sustain the growth of its micro and small enterprise credit portfolio. According to Michael Hoffman, CEO, AccessBank: “This is an important new transaction with our long-term partner, Symbiotics, which will support the strong current growth of the Bank’s lending activities to micro and SME businesses especially in the regions of the country where the Bank is continuously expanding its outreach.”
For more information, please visit read the press release dated November 29, 2012 on the Symbiotics website.