PROJECT

Projects

Summary of Investment Information

Project Number

35718

Company Name

MCB LEASING CJSC

Date SPI Disclosed

Nov 7, 2014

Country

Azerbaijan

Region

Europe

Projected Board Date

Dec 9, 2014

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : Dec 22, 2014
Signed : Jun 16, 2015
Invested : Sep 10, 2015

Sector

Leasing Services

Project Description

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

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation