Bank Respublika secures $40M from ADB to support entrepreneurship in Azerbaijan’s regions
Bank Respublika and Asian Development Bank Sign a New Loan Agreement to Support Entrepreneurship
Bank Respublika and the Asian Development Bank (ADB) have signed a $40 million loan agreement to finance micro, small, and medium-sized enterprises (MSMEs) and the agriculture sector in Azerbaijan’s regions.
The funds will be used to finance businesses engaged in agricultural production, processing, and trade, as well as to support women’s entrepreneurship. The financing will also support the introduction of modern drip irrigation systems and the cultivation of crops and fruits adapted to diverse weather conditions.
The funds, which will be made available to entrepreneurs through Bank Respublika’s branch network, will contribute to business expansion, job creation, income growth, and greater resilience in the agriculture sector across the regions.
“This financing aligns well with ADB’s country partnership strategy for Azerbaijan, 2025–2029, by promoting private sector-led growth, strengthening food security, improving resilience, and expanding access to finance for women-led businesses in areas outside the capital,” said ADB Country Director for Azerbaijan Sunniya Durrani-Jamal. “The project builds on ADB’s ongoing engagement with Bank Respublika, and we are pleased to deepen our partnership to achieve these goals.”
“Supporting entrepreneurship across Azerbaijan’s regions is one of Bank Respublika’s strategic priorities. The new agreement with the Asian Development Bank will enable us to expand financing for small and medium-sized businesses, particularly in agriculture, modern agricultural technologies and women’s entrepreneurship. We highly value our long-standing cooperation with ADB. For us, this agreement represents not only a source of long-term funding but also a further affirmation of international financial institutions’ confidence in our bank’s resilience, strategy and performance.” said Tariyel Ismayilov, Chairman of the Management Board of Bank Respublika.
Source of the news: https://www.trend.az/business/4239032.html
Comments