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Global Gender-Smart Fund S.A., SICAV, a Luxembourg-registered alternative investment fund, and Unibank Commercial Bank Open Joint-Stock Company Azerbaijan, one of Azerbaijan’s leading commercial banks, have finalized a landmark Loan Agreement to drive financial inclusion and economic empowerment.
Arranged with the support of the prominent impact investment firm Incofin Investment Management, the agreement secures a loan facility equivalent to $15 million USD in Azerbaijani Manat (AZN).
The funds will be deployed specifically to expand access to finance for women-owned and women-led enterprises across Azerbaijan, helping bridge the funding gap for female entrepreneurs and promoting gender-smart economic growth.
"This partnership marks a significant milestone in our efforts to broaden financial inclusion in Azerbaijan. By aligning with the Global Gender-Smart Fund, we are reinforcing our commitment to delivering tailored financial resources to women-owned and women-led businesses, enabling them to scale, innovate, and contribute meaningfully to our national economy." said Heybat Gadirov, Acting Chairman of the Management Board of Unibank.
This transaction highlights the shared vision of both financial institutions, together with Incofin, to utilize impact investing as a tool for sustainable development and equitable market growth in the region.
"The GGSF aims to provide gender-smart financing with the ultimate aim of empowering women and improving livelihoods. Partnering with Unibank takes this further: their gender action plan commits to designing new financial products tailored to women's needs and to delivering financial literacy trainings that help women entrepreneurs access and benefit from them. That is what ensures financing is deployed in a responsible and impactful way to women borrowers in Azerbaijan." said Etienne de Belloy, Associate Director, Fund Management at Innpact Fund Management
About Global Gender-Smart Fund
The Global Gender-Smart Fund (GGSF) is the world’s largest gender-focused investment vehicle, providing debt to financial institutions in developing countries. GGSF aims to expand access to gender-smart, responsible financial services for underserved women and women-led and women-owned businesses.
By strengthening inclusive financial systems, GGSF contributes to improved livelihoods, greater gender balance and outreach, and increased women’s leadership in emerging markets.
GGSF is managed by Innpact Fund Management, with three leading private portfolio managers bringing deep market expertise and a strong impact orientation. Incofin Investment Management is responsible for originating, monitoring and managing relationships within this project with Unibank.
For more information, please visit: www.ggs-fund.com/
About Unibank
Unibank is one of Azerbaijan’s leading private commercial banks. Founded in 1992 and headquartered in Baku, Unibank provides a broad range of retail, corporate and investment banking services. The Bank has been at the forefront of digital innovation in Azerbaijan and launched Leobank, the country’s first mobile-only bank, in 2021.
For more information: https://unibank.az
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