BAKU, Azerbaijan, October 1. The Asian Development Bank (ADB) aims to increase investment in Azerbaijan's private sector, ADB Country Manager for Azerbaijan and Turkmenistan, Marina Rose, said at the Baku Climate Action Week (BCAW2025), Trend reports.
She emphasized that the ADB invests about $8 billion annually in private sector projects in Asia and the Pacific region, and the bank intends to expand such cooperation in Azerbaijan, where the private sector is actively developing.
"In recent years, we have already implemented several private agricultural projects in the country. Last year, we provided Veyseloglu with $10 million to develop supply chains and transport logistics. As part of the project, the company introduced an electric vehicle fleet with multi-level cooling systems in trucks. In addition, the project included a $500,000 grant to help local farmers integrate into these supply chains," the operations head noted.
She stated that in 2021, the bank allocated $20 million to Bank Respublika for microfinance for small farmers, as well as $5.9 million to support agricultural supply chains and logistics.
“We are committed to continuing our active cooperation with the private sector, as this cooperation is key to the development of agriculture in the country,” Marina Rose added.