GCPF Expands Partnership with AccessBank Azerbaijan under USD 15 Million Green Finance Facility to Drive Climate Action

Zurich / Switzerland / Baku, Azerbaijan,  14 November 2025 – The Global Climate Partnership Fund (GCPF), a blended finance climate fund managed by Swiss impact investment manager responsAbility Investments, has expanded its partnership with AccessBank Azerbaijan through a USD 15 million green finance facility. This transaction marks GCPF’s second engagement with AccessBank, following the successful on-lending of the first green financing facility.

Through this collaboration, AccessBank, a leading MSME lender with more than 300,000 clients, is emerging as a pioneer in climate finance in Azerbaijan. The partnership combines dedicated long-term financing with a tailored Technical Assistance program, which has enabled AccessBank to establish the country’s first institutional green-lending framework and to build the capacity to identify and finance energy-efficient projects.

Expanding green finance in Azerbaijan

The partnership between AccessBank and GCPF represents one of the first green finance initiatives in Azerbaijan’s banking sector. The facility supports the bank in growing its green-lending portfolio, financing energy-efficient and renewable-energy projects across the country.

The proceeds enable local enterprises and households to adopt clean technologies such as drip irrigation systems, modern greenhouses, efficient cooling and heating systems, and low-emission vehicles. These investments are expected to achieve measurable energy savings and CO₂ reductions, contributing to Azerbaijan’s Paris Agreement goals of cutting greenhouse gas emissions by 35% by 2030 and 40% by 2050.

Blending capital with Technical Assistance and advisory

In addition to long-term financing, AccessBank has benefited from extensive Technical Assistance and capacity building provided by GCPF on green lending as well as Environmental and Social risk management. The program has equipped the bank with the tools, know-how, and institutional structures to integrate climate finance into its daily operations.

Key milestones include:

• A Portfolio and Market Screening identifying green-lending potential within the existing and potential client base.
• Baseline studies on selected high-potential technologies to establish country-specific green-lending criteria, which supported Accessbank to develop its own Green Taxonomy.
• Training of the staff and enhancement/strengthening of dedicated green risk-management structures within the bank.
• Energy audits to guide respective borrowers on climate-friendly technology selections and to verify the CO2 savings.
• Enhancement of Environmental and Social risk management frameworks and practices.

Through this integrated approach, AccessBank is institutionalizing green finance practices and setting new standards for environmental and social risk management in Azerbaijan’s banking sector.

David Tsiklauri, Chairman of the Management Board of AccessBank Azerbaijan, said: “We are proud to extend our cooperation with responsAbility and contribute to the decarbonization and diversification of Azerbaijan’s economy. Expanding green lending will support both a sustainable economy and the growth of MSMEs.” 

David Diaz Formidoni, Head of Financial Institutions Investments, Climate Finance at responsAbility, said: “AccessBank’s leadership in green finance demonstrates how local banks can be powerful drivers of climate action. By combining capital with strong technical support, we aim to strengthen institutional capacity and lay the groundwork for the sustained growth of green lending in Azerbaijan.”

About GCPF

GCPF is a Luxembourg-based fund managed by the Swiss asset manager responsAbility Investments AG. The Fund is a public-private partnership with the primary objective of mitigating climate change through a reduction of greenhouse gas emissions in developing markets. Every mitigation project that GPCF finances needs to reduce energy use or GHG emissions by at least 20%. In addition to mitigation, GCPF recently expanded into adaptation finance, and aims to support financial institutions in developing markets to become more resilient to climate risks and to finance adaptation projects in key sectors.

GCPF was established by the German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU), KfW Entwicklungsbank and the International Finance Corporation (IFC) in 2009. Junior catalytic capital is provided by Germany’s Federal Ministry for Economic Affairs and Energy (BMWK), the UK’s Department for Energy Security & Net Zero (DESNZ), and Denmark’s development cooperation (Danida). Other private and public investors include ASN Bank, Ärzteversorgung Westfalen-Lippe, FMO, OeEB, and EIB.

GCPF is classified as an Article 9 Fund under the European Sustainable Finance Disclosure Regulation (SFDR).

About AccessBank Azerbaijan

AccessBank Azerbaijan is a commercial bank focused on serving micro, small, and medium-sized enterprises (MSMEs) as well as retail clients across the country. Established in 2002, the bank operates a nationwide branch network and serves over 300,000 clients. AccessBank is among Azerbaijan’s leading MSME lenders and is actively developing its green finance capabilities to support the country’s transition toward a more sustainable economy.

About responsAbility Investments AG

responsAbility Investments AG is a leading impact asset manager specializing in private market investments across three investment themes. These themes directly contribute to the United Nations Sustainable Development Goals (SDGs): Financial Inclusion, to finance the growth of Micro & SMEs; Climate Finance, to contribute to a net zero pathway; and Sustainable Food, to sustainably feed an ever-growing population. responsAbility also offers tailor-made and fund investment solutions to institutional investors. All responsAbility investment solutions target specific measurable impact alongside market returns.

Since its inception in 2003, responsAbility has deployed over USD 17.1 billion in impact investments. With over 280 employees collaborating across 6 offices, as of 30 September 2025 the company manages USD 5.4 billion in assets across approximately 330 portfolio companies in around 70 countries. Since 2022, responsAbility has been part of M&G plc, the international savings, and investments business, and contributes to enhancing M&G’s capabilities in impact investing.

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¹ Source: World Bank (2023)