BAKU, Azerbaijan, October 8. The Asian Development Bank (ADB) continues to support the green transition and the development of small and medium-sized enterprises (SMEs) in Azerbaijan, ADB Resident Director Sunniya Durrani-Jamal said at the Halal Business Forum, Trend reports.
Founded 58 years ago and comprising 69 member countries, the ADB actively promotes SME development across Asia, recognizing them as “the backbone of national economies.” Durrani-Jamal noted, “This statement is true for Azerbaijan, where I lead a team of 30 specialists working to expand the private sector and support SMEs.”
According to her, the ADB provides financial, technical, and advisory support and assists in implementing reforms aimed at strengthening the business environment. The bank collaborates closely with the Ministry of Economy of Azerbaijan, the Small and Medium Business Development Agency (KOBIA), and other partners to ensure entrepreneurs have access to resources, innovation, and sustainable development opportunities.
“We do not limit ourselves to financing. Our goal is to develop business potential, encourage sustainable practices, and create conditions in which SMEs can thrive. Working with partners, we help generate jobs, promote inclusive economic growth, and support long-term community well-being,” Durrani-Jamal said.
She drove home the point that SMEs are the backbone of economic activity and are also key players in the quest for environmental sustainability; their involvement is the icing on the cake for a successful green transition.
“Moving to a green economy not only protects the environment but also enhances business competitiveness. At the same time, SMEs face challenges ranging from high costs and limited financing access to climate risks and logistical disruptions,” she added.
Durrani-Jamal highlighted that international and national partners, including Azerbaijani government institutions, are actively implementing incentives, tax benefits, and financing tools to support the ecological transformation of businesses.
“One of the key initiatives under COP29 was the Baku Climate Coalition for the Green Transition of SMEs, in which KOBIA played an important role. The adopted declaration identified two priorities: strengthening SME capacity and stimulating business demand for eco-friendly solutions,” she concluded.
A green transition is a societal and economic shift from a fossil fuel-dependent model to a sustainable, low-carbon, and resource-efficient economy. It involves adopting environmentally friendly technologies and practices to combat climate change, reduce environmental degradation, and foster a thriving, equitable society where no one is left behind. Key aspects include clean energy, resource efficiency, innovation, policy changes, and collaborative efforts across governments, industries, and communities to achieve climate neutrality and long-term prosperity.
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