Project Name：EBRD Financial Intermediary Investment Special Fund—Small Business Account—Phase III—Subproject 5: TBC Kredit Project(Azerbaijan)

Project status：Completed projects

Cooperating Country：West and Central Asia, Azerbaijan

Project Description：

A MSME loan is provided to TBC Kredit (TBCK)for on-lending to MSMES located in Azerbaijan.

Project Objectives：To help TBC Kredit to expand and diversify its loan portfolio, as well as offer much needed medium-term funding to individual entrepreneurs and local enterprises, staisfying the growing demand for financing from MSMEs in the country while facilitating competition in the financial sector.

Executing Agency：TBC Kredit Azerbaijan

Implementation Arrangement：1. Proceeds of lending will be on-lent to the MSMEs in Azerbaijan.
2. Subject to the availability of donor funds, the senior debt facility will be accompanied by TA to cover the following areas: development of a new credit risk rating system to MSMEs and introduciton of a scoring systems for MSEs.

Signing Date：2013-08-26

Projected Benefits：

The proposed project is expected to have a great impact by 1. supporting increased financial intermediation of an underserved micro and small business; 2. facilitation of competition in the sector via support of an emerging strong player in the market.