Finance

Finance

AccessBank partners with Save the Children

21 January 2010 14:44 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. AccessBank signed a memorandum of understanding with Save the Children â€“ the leading independent relief and development organization, to collaborate and participate in future projects within the framework of the bankâ€™s Corporate Social Responsibility program.

â€œI was impressed by the commitment of the AccessBankâ€™s staff to personally become involved in reducing the risks for children in Azerbaijan. This new partnership means that Azerbaijani children will have increased chances for better future and shows how much can be accomplished when the private and public sectors work together.â€ Geof Giacomini, Azerbaijan Country Office Director, Save the Children International

General Manager of the Bank, Andrew Pospielovsky, stated: â€œAccessBank works not only for the economic development of Azerbaijan, but also for the development of a more inclusive society. Our branches and staff are an integral part of the communities in which they work and we encourage our staff to become personally involved in community projects. With this aim we are delighted to be cooperating with Save the Children and their valuable work in Azerbaijan.â€

Save the Children began its operations in Azerbaijan in December 1993. The organization initially managed an emergency response program through which it funded and coordinated relief projects implemented by several international humanitarian organizations. Save the Children shifted its focus to development programs in 1998 and since then has been directly implementing diverse programs in partnership with international and local NGOs, businesses, and the Azerbaijani government.

AccessBankâ€™s mission is to provide access to financial services for Azerbaijanâ€™s low and middle income households and micro and small businesses. AccessBank is 100% foreign owned by six shareholders, consisting of: the European Bank of Reconstruction and Development, the International Finance Corporation, the Black Sea Trade and Development Bank, KfW Development Bank â€“ the Development Bank of the German Government (20% share each), AccessHolding - a strategic investor in microfinance (16.5%), and LFS Financial Systems GmbH - a German consulting company (3.5%).