Asian Development Bank provides loans to Azerbaijan and Sri Lanka

The Asian Development Bank (ADB) has finalized two significant financing agreements to support economic development in Azerbaijan and Sri Lanka.

In Azerbaijan, Bank Respublika has signed a $40 million loan agreement with the ADB. The funds are designated to support micro, small, and medium-sized enterprises (MSMEs) and the agricultural sector in Azerbaijan’s regional areas. Key objectives include financing agricultural production, processing, and trade, as well as promoting women’s entrepreneurship. The initiative also aims to introduce modern drip irrigation systems and climate-resilient crop cultivation to foster job creation and food security.

In Sri Lanka, the Cabinet has approved a $100 million loan from the ADB to bolster the nation's economic recovery. This financing is part of a broader stabilization agenda following the country's 2022 economic crisis. The funds are expected to support economic governance, public financial management, social protection, poverty alleviation, and infrastructure development, while assisting small and medium enterprises.