ADB announces financial opportunities for SMEs in Azerbaijan

The Asian Development Bank (ADB) serves not only as a financier but also as a strategic investor in Azerbaijan, actively collaborating with local authorities to foster a favorable business environment, said Sanan Shabanov, ADB's Chief Investment Officer for Azerbaijan, at the First Azerbaijan International Investment Forum (AIIF 2025), Report informs.

Shabanov highlighted ADB's partnership with the Small and Medium Business Development Agency (KOBIA), formalized last year through a memorandum. "We work together to establish public-private partnerships, improve local legislation, and develop new financial instruments. In short, ADB is a strategic investor in Azerbaijan. We support the government and local institutions to create a business-friendly environment and utilize all opportunities to benefit SMEs," he said.

He added that ADB enhances the capacity of local institutions and SMEs through both financial products and technical assistance. One example is a project to increase women's access to business, implemented in cooperation with AccessBank, which helped about 30 women entrepreneurs.

According to Shabanov, ADB also facilitates micro and small businesses' access to finance through commercial banks. "In 2023, we approved a national currency loan to Bank Respublika, targeting micro-businesses, including those led by women entrepreneurs. Additionally, we collaborate with TuranBank and Rabitabank, which support SMEs, especially in cross-border operations," he noted.