devinitorg/iati-policy-markers huggingface dataset:
UniBank HousingFinance IFC is launching an Azerbaijan Housing Finance Program, designed to facilitate the development of Azerbaijans mortgage sector and to increase access to funding. The program would include providing long-term mortgage facilities to selected commercial banks as well as advisory services to the participating banks and other key market players.

The proposed transaction with Unibank Commercial Bank Open Joint-Stock Company (the Bank or Unibank) is the first investment under the program and consists of a seven-year senior loan for up to $15.0 million for the purpose of originating mortgages. IFCs investment is expected to have a high developmental impact in the following areas:

- Development of Azerbaijans housing finance sector: 

Consistent with the IFCs strategy, the project presents the opportunity to promote the development of the primary mortgage market in Azerbaijan by: 

- providing the much needed long-term funding to the banking system;
- raising the mortgage underwriting standards in accordance with the best industry practices; 
- increasing standardization of mortgage files, documentation, and quality.

Furthermore, the project would enable the Bank (and potentially other players) to build a pool of suitable assets for securitization, which would create conditions for the development of secondary mortgage market and potential refinancing mechanisms.

- Increased Access to Funding: 

By providing long term funding, the project will also increase the affordability of home purchase, thus promoting home ownership in the country, as well as providing financing for houses renovation. Furthermore, by developing the mortgage market in Azerbaijan, the project is expected to lower the cost of mortgage loans over the short to medium term.

- Strengthening of the Financial Sector: 

The successful implementation of this project will develop financial intermediation by increasing the range of products and services available in the market.

- Demonstration Effect: 

IFCs involvement will help bring credibility to the countrys growing mortgage finance sector and will facilitate attracting long-term funding from other sources.
Turan MSME Loan The proposed project will support TuranBank, a new investment partner for IFC, in providing access to finance for MSMEs operating in Azerbaijan. The project consists of a senior loan of up to US$7 million. The proposed project will have high development impact. The project is expected to have the following development impacts: (i) increase access to finance for MSMEs; (ii) improve corporate governance; and (iii) deposit mobilization.
Azerbaijan Joint Venture Bank Summary Of Project Information (SPI)       Project Name    Azerbaijan KocBank              Region    Europe        Sector       Project No007761   Projected Board DateFebruary 23, 1998   Company NameAzerbaijan Bank   Technical Partner and/or Major Shareholders    	KocBank Turkey (Turkey)    Project Cost Including proposed IFC investment    	Total Cost US$5 million, IFC equity participation of US$1 million or 20% of the initial capital.    Location of project and Description of site    	Baku, Azerbaijan    Description of Company and Purpose of Project    	IFC will make an equity investment in a new joint-venture commercial bank in Azerbaijan.  Azerbaijan Bank will offer a full range of commercial banking services to corporate and retail clients. The sponsor and technical partner, Kocbank, is a prominent Turkish bank owned by Koc Group, a leading Turkish private sector group, which has made a substantial real sector investments in Azerbaijan. Also a local partner is involved in the project. The Bank is expected to enhance standards and facilitate the development of the banking sector.    Environmental Category and Issues    	This is a category C project according to IFCs environmental review procedure. No further environmental review is required.       Date SPI sent to PIC     January 23, 1998      This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors.  It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration.    For Additional Information contact:  Corporate Relations Unit -   telephone: (202) 473-7711   facsimile: (202) 974-4384
MFBAzerb Loan The project involves the extension of a senior credit line of up to $3 million to Microfinance Bank of Azerbaijan (MFBA or the Bank). IFCs current exposure to MFBA is a $1.75 million equity investment, representing 25.55% of the share capital. The proposed loan is part of a larger credit envelope of up to $9 million in which two additional shareholders in MFBA, Kreditanstalt Fur Wiederaufbau (KfW) and the Black Sea Trade and Development Bank (BSTDB), will participate. The purpose of the credit line is to support MFBAs rapid loan portfolio growth, which is critical to the further development and sustained profitability of the Bank.  MFBA started operations in October 2002 as a specialized provider of credit and financial services to individual entrepreneurs, and small and micro enterprises (SMEs) across Azerbaijan. The Bank started operations in Baku with a headquarters office, and has since opened four branch offices in Baku (Airport market, Xalqlar Dostlugu and 20th January area) and Sumgait. The Bank is expected to open a fifth branch office in Ganja in May 2005.  To date, MFBA has served 4,500 micro and small enterprise clients with 10,500 credit lines totaling over $23 million. Loan portfolio has increased by 73 percent in 2004 to $7.2 million as of December 31, 2004 and $8.8 million by the end of March 2005. The Bank projects its loan portfolio to increase to $15.1 million by the end of 2005. MFBA requires additional funds to expand its growing loan portfolio.  MFBA requires additional funds to expand its growing loan portfolio, which is expected to double to $15 million by the end of 2005. Because MFBA is only now able to accept deposits and the inter-bank market in Azerbaijan remains underdeveloped, MFBA must rely primarily on IFI financing until it can build up its deposit base. In February 2005, the European Bank for Reconstruction and Development (EBRD) finished disbursing a $5 million credit line which is expected to be fully utilized by end May 2005. The other shareholders, KfW and BSTDB, are planning on providing an additional $3 million each also in the first half of 2005.
FINCA Azerbaijan The proposed project is to provide a $7 million senior loan, in local currency equivalent, to FINCA Azerbaijan (the Company), a leading microfinance company in Azerbaijan. Proceeds of the loan will be used to finance the expansion of their lending to micro and small entrepreneurs (the Project). The Company currently seeks long-term funding to continue its dynamic growth and offer new products to its target clientele. -	The Project would provide funding for underserved segments of society in an IDA country, more specifically women entrepreneurs, and will contribute to employment creation and poverty reduction in Azerbaijan.

-	The Project would support the efforts of FINCA Azerbaijan to diversify and increase the volume of their funding and to better manage their asset and liability and their local currency position at a time of limited funding opportunities.

-	In Azerbaijan, the provision of term funding in the local financial market will have a strong demonstration effect and build market confidence.
Turan MSME II The proposed project consists of a senior loan of up to US$7 million to TuranBank OJSC (TuranBank), an existing investment partner of IFC.  The proceeds from the Project will serve to expand the Banks lending program to MSMEs (the Project).   This Project supports a strong financial intermediary with a successful track record.  The Project is also instrumental in supporting the expansion of non-oil industries in Azerbaijan.   Turan Bank is a Tier II Bank that was established in 1992 as an LLC and became a joint stock company in March 2005. The Banks vision is to be a universal bank providing a wide range of banking products and services to MSMEs and individuals through a wide network of branches and regional centers. TuranBank operates through a network of 14 branches, including 8 branches in the regions. The Bank is re-directing its services to MSME sector since 2007 after being a boutique bank focused on large corporate clients. The proposed project will have a high development impact. The project is expected to have the following development impacts: (i)  support TuranBank''s efforts to diversify and increase the volume of its funding base and to better manage its assets and liabilities at a time of limited funding opportunities; (ii) support the growth of the Bank''s MSME portfolio and increase access to finance for MSMEs; and (iii) stimulate growth in the non-oil sector and make a positive impact on employment generation and economic development in Azerbaijan.
Rabitabank II Rabitabank (RB) or (the Bank) was established in 1993 by public-sector companies of the Ministry of Communications.  Since then, the Bank has been privatized, and currently is 95% privately owned.   Following privatization, RB retained its communications sector niche and continues to serve and finance local and joint-venture companies in the cellular, long-distance, and telecom installation fields.  However, learning from the experience of peer banks' failures from sector concentrations as well as understanding the importance of SMEs in the country's economic development, RB is placing importance on increasing work with SMEs.  The Bank is headquartered in Baku and has 4 branches in and outside of Baku. 

IFC has been approached by Rabitabank for loan funds to on-lend to small businesses in Azerbaijan.  The Bank wishes to increase the provision of financing to small businesses to strengthen the linkages between large oil and gas sector firms and the small business market.  There is currently a major shortage of funds targeted at this segment of the economy.
RespublikaII The proposed transaction consists of a senior loan of up to $20 million to Bank Respublika Open Joint Stock Company (the Bank or Respublika) for on-lending to micro, small and medium enterprises (MSMEs). IFC has previously provided a senior loan to Respublika for SME lending as well as a trade line under the Global Trade Facility Program. The successful implementation of this project will:    -address the long-term funding needs of the MSME sector in Azerbaijan; -develop financial intermediation by supporting the growth of different financial products and services serving MSME clients; and -yield significant developmental and economic benefits for the private sector and the whole economy.
Phase 1 Project ACG Development Phase 1 Project Description  The Azeri Chirag deepwater Gunashli (ACG) fields operated by BP Exploration (Caspian Sea) Limited contain an estimated 5.4 billion bbls of recoverable crude oil reserves.  They will be developed in four separate phases, the first of which, the Early Oil project, was financed by IFC and EBRD in 1998 and is producing approximately 140,000 barrels of oil a day.  The second stage, called Phase 1, is currently being considered for separate financing by IFC and EBRD although the financing of the Phase 1 project will be conducted in parallel with the BTC project.  Phase 2 was sanctioned in September of 2002, while Phase 3 is in the project development stage.  Following the completion of all of the phases in 2009, the ACG field peak production of crude is expected to be over one million barrels of oil per day based on proved plus probable reserve estimates.    BTC Project Description:  The Baku-Tbilisi-Ceyhan, or BTC, pipeline will transport up to one million barrels of oil per day (bpd) of crude oil primarily from the ACG field.  The 1,760 km pipeline, which starts at the Sangachal Terminal near Baku in Azerbaijan, passes through Georgia and ends at a new marine terminal at Ceyhan on the Mediterranean coast in Turkey, is due to become operational in early 2005.    ACG production is currently shipped primarily through the Western Route Export Pipeline, (WREP) completed as part of the Early Oil project, ending in Supsa, Georgia; however, the current capacity of this route is approximately 150,000 bpd.  In addition, the Northern Route pipeline to Novorossiysk, Russia has a capacity of 115,000 bpd. The BTC pipeline became a necessity because of current constraints on capacity that would limit the ability to bring ACG crude to market.  Early conceptual development of the project took into account the need for a dedicated export route for the ACG field that would not require the shipment of Caspian oil through the Bosphorus Straits thereby significantly reducing environmental risk.
Azerigazbank-II Azerigazbank (AGB, or the bank) was established in 1992 by the companies of Azerigaz State Concern as a joint-stock investment bank.  While AGB was established primarily to provide banking services to the various companies of the state-owned gas sector, it has since diversified its shareholder and customer base.  AGB no longer lends to Azerigaz and its affiliated public-sector companies, and is shifting its focus toward retail banking.    In addition to the head office in Baku, Azerigazbank has 103 employees, 25 currency exchange offices, and 5 branches throughout Azerbaijan.  IFC has been approached by Azerigazbank for loan funds to on-lend  to small businesses in Azerbaijan.  The Bank wishes to increase the provision of financing to small businesses to strengthen the linkages between large oil and gas sector firms, the tourism industry and the small business market.  There is currently a major shortage of funds targeted at this segment of the economy.
SEF Azel Project Azerbaijan Electronics (Azel or the company), a joint-stock company owned by two systems integration engineers, is one of the most successful computer and office equipment suppliers and systems integrators in Azerbaijan.  The companys main clientele is in the corporate sector and its main lines of business, all of which are related to the procurement, supply and maintenance of computers and office equipment, include:   - systems integration;  - retail;  - post-sale service;  - software development; and  - computer assembling.  The project is to secure the necessary basic physical infrastructure for the company to develop and grow in a conducive business environment by way of the following main project components:   - purchase of 1,300m2 of new office space, currently under development, in the center of Baku; and  - expansion of the companys computer/office equipment retail network to four stores by purchasing two new locations of 150m2 each.    Total project cost is expected to be $5.1 million, and IFC has been requested to provide an A Loan of $2.5 million, with the balance to be financed by new equity and internal resources. The project will have the following key development impact for the following stakeholders:  - Consumers:   Through improved retail network, the project will bring closer and better service to the customers.  - Employees:   The project will significantly improve the working conditions of existing staff who are currently working in an old run-down leased Soviet-era building; and will help the company create about 40-50 new permanent jobs in the next several years.  - People:  The project will help a local company which supplies small businesses and home users with lower cost locally assembled computers.  This will stimulate further computer penetration and lead to higher education, employment opportunities, economic growth and income generation.  - Demonstration effect:   Azeri enterprise sector is in its early stages of development and most companies have significant room to improve their corporate governance regimes.  The project will help Azel upgrade its business practices, by, among other things, adopting international accounting standards.  The adoption of more rigorous business standards will provide an example to other companies in the sector.  - Corporate Governance:   Azel was selected as a pilot of IFCs corporate governance program.  IFC will assist the company become more transparent and advise on improvements in corporate governance thereby assisting it with its goal of raising finance in international markets.  The project will help establish a secure foundation of basic infrastructure to permit the company to grow and develop, including in neighboring markets.
ADA-Ticaret Joint Stock Company ADA-Ticaret Joint-Stock Company (or the company) plans to establish a food retail chain in Azerbaijan.  The companys stores will be conveniently located and will offer a broad range of quality grocery products at affordable prices in a clean and comfortable setting.  The project is to establish at least 50 stores in Baku, the capital of Azerbaijan, between 2006 and 2008.  The project described in this SPI is identical in scope to that described in an earlier version of this SPI disclosed on June 13, 2006 under the name ADA-Azerbaijan Joint Stock Company.  The new company name reflects a change in shareholding. -Introducing convenience, product range, quality and affordability of modern grocery shopping to middle and lower middle income consumers in Azerbaijan; - Stimulating competition in the industry which will result in increased efficiency, better service and lower prices; - Developing linkages with local suppliers thus fostering the production of quality goods in Azerbaijan, and contributing to the increased development and efficiency of the retail supply chain; and - Creating employment for more than 1,300 permanent employees as well as a large number of indirect jobs in supplying and transportation/delivery sectors.
Azerigazbank (AGB) Equity Azerigazbank (AGB or the Bank) is one of leading private banks in Azerbaijan providing financing and other banking services to Small and Medium Enterprises (SMEs), local entrepreneurs and individuals. In July 2005, the Bank was ranked number two among private banks in terms of assets, number five in terms of loan portfolio, and number two in terms of deposits. In addition to its head office in Baku, AGB has 8 branches throughout Azerbaijan.   AGB has been IFCs client since 1998 when the Bank borrowed $400 thousand for on-lending to SMEs. Following the Banks growth and increasing role in the SMEs sector, IFC extended a second loan to the Bank in 2003 in the amount of $1.2 million of which $1.0 million is outstanding today. By providing long term funding and technical assistance to AGB, IFC supported the Bank to grow as solid and trustworthy institution.  As AGB continues to expand its lending and leasing operations, the Bank approached IFC with a request for to participate in the upcoming equity issue which would raise the capital of the Bank to AZN12 billion. IFC is considering an equity investment into AGB representing about 17.5% of common voting shares of the Bank.  The new project is a part of investment package which beside the equity investment includes a senior loan of up to $3.0 million and a Trade Finance line of up to $1.0 million.  The long term funding would allow the Bank to strengthen its balance sheet in view of the expected expansion and increased demand for funding from SMEs, entrepreneurs and individuals. The investment will be supplemented by technical assistance to contribute to the institutional capacity building of the Bank and improve such areas as corporate governance, risk management and internal audit.
Access Sub-debt The proposed project consists of a subordinated loan of up to US$25 million to AccessBank CJSC (AccessBank), the market leader in microfinance in Azerbaijan and an existing investment partner of IFC. The proposed investment would be used to support the Banks capital base, enabling it to implement its growth strategy. i) Financial Inclusion: Support growth of the Bank''s MSME sector portfolio and increase access to finance for MSMEs ii) Job Creation: The proposed Tier II capital will enable the Bank to on-lend to a large number of MSMEs through the multiplier effect of increasing the capital base, and indirectly contribute to greater job creation. iii) Economic Diversification: Support the development of the non-oil sector in Azerbaijan (iv) positive impact on economic development and poverty alleviation in the country.
MCB Leasing Sen. The proposed project is a senior loan facility of up to USD3 million to MCB Leasing (CJSC) Azerbaijan. The purpose of the loan is on-lending to Small and Medium Enterprises (SME) in Azerbaijan for business expansion . The project is the first transaction between IFC and a leasing company in Azerbaijan.  Established in 2010, MCB Leasing (CJSC) is the 8th largest privately owned leasing company in Azerbaijan with 3.2% market share as at December 2013. MCB Leasing is majority owned by MCB Bank Pakistan Contribution to economic growth through improved access to finance for SMEs: Credit penetration in Azerbaijan is relatively low and expanded access to credit is need to support small and medium sized enterprises which make up the most important part of Azerbaijan's non-oil economy
AccessBank MSME The proposed project will support Accessbank in providing access to finance for MSMEs operating in Azerbaijan. The project consists of a senior loan of up to US$15 million. The development impact of the Project is expected to be significant in the following areas: (i) Support the growth of the Bank''s MSME portfolio and increase access to finance for MSMEs. (ii) Stimulate growth in the non-oil sector and make a positive impact on employment generation and economic development in Azerbaijan. (iii) Potentially create positive spill-overs in the banking sector by supporting a strong partner with good risk management and corporate governance practices.
Credagro Project The proposed project comprises of:

- a senior loan of up to $6.0 million and 
- a subordinated convertible loan of up to $4.0 million to Credagro, a limited liability Non Banking Credit Organization providing finance to rural entrepreneurs and businesses in Azerbaijan (Credagro or the company).  

The objective of the project is to support Credagro by providing long term funding which will contribute to the further expansion of its lending to Micro, Small and Medium sized Enterprises (MSMEs) throughout the country and will give impetus to the transformation process of Credagro to a microfinance bank in the mid term. Anticipated development impact of the project includes:

- contributions to poverty reduction and employment creation by improving access to credit for poor populations and microenterprises;
- support the growth of the agricultural sector by providing long term financing to an microfinance institution (MFI) with primary operations in the rural area;  and
- contribute to the increasing competition in the financial sector and improving financial intermediation.