ADB, Bank Respublika to Boost Access to Finance for Women-Led MSMEs and Agriculture Sector in Azerbaijan
Azerbaijan, Oct. 26 -- The Asian Development Bank (ADB) and Bank Respublika Open Joint Stock Company (Bank Respublika) have signed a $40 million loan to expand access to finance for micro, small, and medium-sized enterprises (MSMEs) and agriculture borrowers in regions outside Azerbaijan's capital, Baku. At least 20% of loan proceeds will be on-lent to women-owned MSMEs, and at least 50% to borrowers operating in agricultural production, processing, and trade to support modern drip irrigation systems and the cultivation of crops and fruits that are adaptive to diverse weather conditions. The financing will help boost MSME growth, create jobs, increase incomes, enhance resilience to natural hazards, and diversify the country's economy. Acces...
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