The RoyalBank (RB) is pleased to announce that it has signed a Memorandum of Understanding (MOU) with the USAID-funded Private Sector Competitiveness Enhancement Program (PSCEP), implemented by Chemonics International Inc., to provide technical advisory and training assistance in order to increase bank lending to Small and Medium-Size Enterprises (SME).

This new project will assist The RoyalBank in all areas of SME lending, including new SME loan products, leasing, L/Cs, L/Gs, and document collections, in order to create better access to finance for Azerbaijani SMEs.

The MOU was signed between Mr. Zaur Farzaliyev, The RoyalBank CEO, and Mr. Danilo Cruz-DePaula, PSCEP Chief of Party.

This is the second USAID-funded technical assistance project to assist RB to develop sustainable financial intermediation services to SMEs.