ADB: Volume of business loans in Azerbaijan to exceed 16 billion manats by end of 2026

The Central Bank of Azerbaijan (CBA) has set a goal to increase the volume of issued business loans - including loans to small and medium-sized enterprises (SMEs) - to at least 16.5 billion manats by the end of 2026, according to the Asian Development Bank's Asia Small and Medium-Sized Enterprise Monitor (ASM) 2025 Edition, Report informs.

On January 26, 2024, the Central Bank approved the Financial Sector Development Strategy for 2024–2026, aimed at expanding financial accessibility, diversifying financial services, and strengthening the transparency and resilience of the credit market.

According to the document, at the time the strategy was adopted, the total volume of issued business loans stood at 12.4 billion manats.

The strategy also notes that the share of cashless payments in retail trade was about 21.1% at the beginning of 2024 and is expected to exceed 40% by the end of 2026. Given that most SMEs operate in the wholesale and retail trade sectors, a significant increase in cashless transactions is expected primarily among small and medium-sized enterprises.