CB Unibank Azerbaijan and FMO, the Dutch entrepreneurial
development bank, have announced a new stage in their business
relations and the signing of a strategic Term Facility Agreement
for a total amount of USD 50 million with a maturity of 4
years.


The main goal of the raised financing is to expand lending and
support micro-enterprises, as well as small and medium-sized
enterprises, especially young and female entrepreneurs, and SMEs
active in the agricultural sector (agri-SMEs). The resumption of
this cooperation aims to stimulate economic growth, develop
sustainable agriculture, and increase the availability of financial
resources for key business segments, women led businesses and young
entrepreneurs.


Commenting on the renewal of the collaboration and the signed
agreement, the Chairman of the Management Board of CB
Unibank Azerbaijan, Mr. Valentin Morozov, noted:


"We are pleased to resume cooperation with our long-standing
and reliable partner, FMO. The signing of this four-year agreement
for USD 50 million is an important milestone in the development of
our bank. The attracted funds will allow us to significantly expand
the scale of support for the micro-business and agricultural
sectors, which play a crucial role in the country's economy. We are
confident that our partnership will open up new opportunities for
entrepreneurs and contribute to the sustainable economic growth of
private business in the country."


Juan-Jose Dada, Co-Chief Investment Officer at
FMO, said:“Renewing our partnership with Unibank will
help expand access to finance for Azerbaijan’s entrepreneurs and
businesses, particularly micro-enterprises, SMEs, women-led
businesses, young entrepreneurs, and companies active in the
agricultural sector. Through this USD 50 million facility, we aim
to support a more inclusive and sustainable private sector and
contribute to long-term economic development in
Azerbaijan.”







About Unibank: Unibank is one of Azerbaijan’s leading
private commercial banks. Founded in 1992 and headquartered in
Baku, Unibank provides a broad range of retail, corporate and
investment banking services. The Bank has been at the forefront of
digital innovation in Azerbaijan and launched Leobank, the
country’s first mobile-only bank, in 2021.


For more information: https://unibank.az


About FMO: FMO is the Dutch entrepreneurial
development bank. As a leading impact investor, FMO supports
sustainable private sector growth in developing countries and
emerging markets by investing in ambitious projects and
entrepreneurs. FMO believes that a strong private sector leads to
economic and social development and has a 55+ year proven track
record in empowering entrepreneurs to make local economies more
inclusive, productive, resilient and sustainable. FMO focuses on
three sectors that have high development impact: Agribusiness, Food
& Forestry, Energy, and Financial Institutions. With a total
committed portfolio of EUR ~16 billion spanning over 85 countries,
FMO is one of the larger bilateral private sector development banks
globally. For more information: please visit www.fmo.nl