2024-04-16 10:34:57
“Rabitabank” OJSC and the Asian Development Bank (ADB) have signed a cooperation agreement on the “Trade Financing Guarantee Facility”. The agreement was signed by Aydin Huseynov, Chairman of the Board of Rabitabank OJSC, and Mrs. Candice McDigan, ADB’s Country Director for Azerbaijan.
Cooperation with ADB aims to strengthen Rabitabank’s trade financing operations and offer improved services to its customers. This strategic partnership demonstrates that Rabitabank supports businesses by providing them with the necessary financial tools to expand their international trade activities. By leveraging ADB’s expertise and financial support, Rabitabank will further strengthen its capacity to mitigate risks associated with international trade transactions, thereby contributing to greater economic stability and prosperity in the region.
Aydin Huseynov, Chairman of the Board of Directors of Rabitabank OJSC, said: “We are pleased to cooperate with the Asian Development Bank to expand our trade financing capabilities. This agreement reflects our joint commitment to promote economic development and facilitate cross-border trade. With the support of ADB We are confident of providing tailored financial solutions that meet the evolving needs of our clients and contribute to sustainable growth.”
“We are pleased to return to the financial sector of Azerbaijan. This partnership with Rabitabank is the Trade and Supply Chain Finance Program’s first Trade Finance collaboration in Azerbaijan since 2016. Rabitabank is committed to the development of Azerbaijan’s non-oil sector with a special focus on business development in Azerbaijan, plans to expand its supply chain program and therefore, it is an important partner for us,” said Mrs. Candice McGeegan, ADB’s director for Azerbaijan.
Through this cooperation, “Rabitabank” OJSC once again confirms its position as a reliable partner for businesses that want to manage the complexities of global trade. The partnership with ADB demonstrates Rabitabank JSC’s continuous efforts to provide innovations and value-added services that ensure economic progress and prosperity in the region.
“Rabitabank” OJSC is at the service of customers with a total of 28 service points, 74 ATMs, “Rabita Mobile” application, Internet Banking platform, “RabitaBot” chatbot and Call Center number 133 in 16 regions and Baku city.
ADB is committed to achieving a prosperous, inclusive, sustainable and resilient Asia and the Pacific region while continuing its efforts to eradicate extreme poverty. The Bank was established in 1966 and is managed by 68 members, including 49 countries in the region.