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The investment is an up to US$40 million equivalent financing package to Bank Respublika to support its lending to MSMEs, including at least 50% of the loan proceeds earmarked for on-lending to women-owned MSMEs (the “Project”). IFC’s own account loan exposure will be up to US$20 million equivalent in the form of an Azerbaijani Manat-linked loan and/or will be denominated in USD.
IFC RISK RATING: FI-2
Respublika’s ultimate controller is its founder, Mr. Natig Guliyev, who directly owns 63.3% of the Bank’s shares, while 26.93% belong to members of his family.
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
- | - | - | - | Bank Respublika | Client | - |
“BANK RESPUBLIKA” Open Joint Stock Company
Aslan Abasov
Deputy Chairman of the Executive Board
+994502108042
Aslan@bankrespublika.az
Khagani str. 21, Baku, Azerbaijan, AZ1000
www.bankrespublika.az
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ACCOUNTABILITY MECHANISM OF IFC/MIGA
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org