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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