TuranBank OJSC, which places a strong emphasis on gender equality and expanding women's access to financial opportunities, has successfully concluded another important international cooperation agreement. Within the framework of its partnership with Belgium-based Incofin Investment Management, the Bank has secured funding from the Global Gender-Smart Fund S.A., SICAV (GGSF) in the amount of the local currency equivalent of USD 5 million for a period of three years.
The attracted funds will be directed towards financing micro, small, and medium-sized enterprises (MSMEs), particularly those owned or led by women. The facility aims to improve access to finance for women entrepreneurs, support the growth of their businesses, create new employment opportunities, and contribute to inclusive economic development across Azerbaijan, especially in the regions.
Promoting gender equality and ensuring equal access to financial resources are among the key drivers of sustainable economic growth. International experience demonstrates that empowering women entrepreneurs strengthens economic resilience, fosters innovation, and contributes to broader social and economic prosperity. Through this partnership, TuranBank reaffirms its commitment to supporting women’s economic participation and reducing barriers to finance. In addition, the funding will provide local businesses with greater access to long-term financing in local currency, helping them mitigate foreign exchange risks and strengthen their financial sustainability.
This agreement represents another vote of confidence from international financial institutions in TuranBank’s financial stability, transparency, and strong corporate governance standards. The partnership further supports the Bank’s strategic objectives of enhancing financial inclusion, promoting gender equality, and contributing to sustainable economic development.
TuranBank remains committed to expanding cooperation with international partners and continuing to support women-led businesses, broaden access to finance, and foster inclusive economic growth in Azerbaijan.
About Global Gender-Smart Fund
The Global Gender-Smart Fund (GGSF) is the world’s largest gender-focused investment vehicle, providing debt to financial institutions in developing countries. GGSF aims to expand access to gender-smart, responsible financial services for underserved women and women-led and women-owned businesses.
By strengthening inclusive financial systems, GGSF contributes to improved livelihoods, greater gender balance and outreach, and increased women’s leadership in emerging markets.
GGSF is managed by Innpact Fund Management, with three leading private portfolio managers bringing deep market expertise and a strong impact orientation. Incofin Investment Management is responsible for originating, monitoring and managing relationships within this project with Turan Bank.
For more information, please visit: www.ggs-fund.com/
About TuranBank
Established in 1992, TuranBank OJSC is one of Azerbaijan’s most reliable and stable financial institutions. The Bank provides a wide range of financial services in line with international standards to both retail and corporate customers. With a network of 22 service points across the country, TuranBank has demonstrated sustainable growth throughout its 34 years of operation and continues to play an important role in the development of Azerbaijan’s banking sector through its commitment to transparency, reliability, and social responsibility.
For more information, please visit: www.turanbank.az
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