ADB to boost private sector investments in Azerbaijan

The Asian Development Bank (ADB) aims to expand its investments in Azerbaijan's private sector, Marina Rose Best, ADB's Operations Head for Azerbaijan and Turkmenistan, said on the third day of Baku Climate Action Week (BCAW2025), Report informs.

Best noted that ADB annually invests around $8 billion in private sector projects across Asia and the Pacific. The bank is now looking to grow its portfolio in countries like Azerbaijan, where the private sector is actively developing.

"In recent years, we've supported several agricultural projects in Azerbaijan's private sector," she said. "Last year, we provided $10 million to the Veyseloglu company to improve supply chains and transport logistics. The project introduced a fleet of electric trucks equipped with multi-level cooling systems for product transportation."

Additionally, a $500,000 grant was allocated to help integrate local farmers into the company's supply chains.

Best also recalled that in 2021, ADB provided a $20 million loan to Bank Respublika for microfinancing small farmers. Another $5.9 million was allocated to support agricultural supply chains and logistics.

"We hope to continue building strong ties with the private sector," she said. "Without these partnerships, it's not possible to ensure sustainable agricultural development in the country."