Bank Respublika and IFC sign loan agreement to boost agriculture

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May 22, 2020 19:01 (UTC + 04: 00)

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By Ayya Lmahamad

Bank Respublika has signed an agreement with the International Finance Corporation to improve access to loan products for entrepreneurs working in the agricultural sector and further speed up the lending process, the bank’s press service reported on May 21.

According to the agreement, the bank will implement a new CLARA risk management system, which will expand the possibilities of lending to agriculture.

The new system will aim to develop entrepreneurship in all regions of Azerbaijan in accordance with the strategic orientation of the bank.

Within the framework of cooperation, people working in various fields of agriculture will be able to obtain loans more quickly and easily by approaching branches of the Bank of the Republic covering all regions of the country.

The expansion of cooperation under the new agreement is an indicator of the success of many projects with IFC.

In accordance with its strategy, the bank contributes to the development of the non-oil sector in industry, agriculture, construction, trade and services by implementing projects to support the population, micro, small and medium companies.

Bank Respublika started its activity on May 22, 1992 under the license of the National Bank of the Republic of Azerbaijan.

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