BAKU, Azerbaijan, September 23. The Asian Development Bank (ADB) is considered a strategic investor in Azerbaijan, Sanan Shabanov, Senior Private Sector Development Specialist at ADB’s resident mission in the country, said at the 1st Azerbaijan International Investment Forum in Baku, Trend reports.
“We cooperate with the government and local authorities, support the creation and enhancement of a business-friendly environment, and use every opportunity to assist local micro, small, and medium-sized enterprises (MSMEs). In addition to financial instruments, we provide technical assistance to strengthen the capacity of local authorities and MSMEs,” Shabanov said.
The representative emphasized that private sector development, including support for MSMEs, remains a key focus for the bank.
“In all our operations and transactions, we consider multiple perspectives, including that of MSMEs, evaluating how our deals and investments benefit smaller market players. We believe private sector and MSME development is not just a formal requirement or a checkbox exercise but an economic analysis to assess how many micro and small enterprises are involved in infrastructure projects,” he added.
Azerbaijan became a member of the Asian Development Bank (ADB) on October 29, 1999, with the establishment of its local representative office in Baku in November 2004. The collaborative synergy between Azerbaijan and the Asian Development Bank has strategically concentrated on infrastructural initiatives, encompassing energy and transportation sectors, as well as urban service enhancements to bolster the nation’s developmental trajectory.
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