The Asian Development Bank (ADB) carries out approximately 8 billion dollars of private sector investments annually, and we intend to increase this, said Marina Rose Best, the Asian Development Bank's Country Director for Azerbaijan and Turkmenistan, during a panel discussion on the third day of the Baku Climate Action Week (BCAW2025), APA-Economics reports.
She noted that there are concrete examples in this direction in Azerbaijan: “In 2023, we allocated a $10 million loan to the Veyseloglu company. This is for delivering products along the value chain to the market. There was also a climate component — the company purchased electric refrigerated trucks for food transportation. Products are even stored at different temperature regimes in the vehicles: ice cream in one compartment, apples in another. This increased logistics efficiency. Additionally, we provided a $500,000 technical assistance grant to enable farmers to join this value chain. In 2021, we approved a $20 million loan for "Bank Respublika", aimed at strengthening microfinance services for small farmers. That same year, a $5.9 million loan was allocated to the Avrora company. This also supported the logistics and market access value chain for agricultural products.”
“All this shows that cooperation with the private sector is very important for supporting agriculture. We want to further increase our involvement in this area in Azerbaijan. We are fully open to working with the private sector and ready for partnership,” the ADB official added.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on TikTok
Follow us on Facebook
Follow us on X
