As stated by the IFC, the main objective of Europe ABF Project is to increase financing available for SMEs and value chain participants in Azerbaijan, Georgia, and Ukraine through the establishment of new asset-based financing (ABF) solutions. The project is expected to achieve the following impact: • 2% of ABF out of SME outstanding portfolio of the banking sector (the targets are subject to review and may be updated within the grace period).
Asset-based finance is a specialized method of providing companies with working capital and term loans that use accounts receivable, inventory, machinery, equipment, or real estate as collateral. ABF include factoring, reverse factoring, invoice discounting, distributor finance, loans against receivables/inventory, purchase order finance, etc.
To address the market gaps IFC will be focused on i) supporting the regulators in creating conducive prudential regulations for ABF; ii) supporting the creation of the National ABF program in three countries; iii) designing, piloting and rolling out ABF products; and iv) supporting MSMEs capacity for using ABF products.
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