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Akbar Novruz

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The Asian Development Bank (ADB) continues to support Azerbaijan in its “green” transition and the development of small and medium-sized businesses (SMEs), Sunniya Durrani-Jamal, Director of the ADB Office in Azerbaijan, stated at the Halal Business Forum, Azernews reports.

Founded 58 years ago with 69 member states, the ADB promotes SME development across Asia, recognizing them as the backbone of national economies. “This is equally true for Azerbaijan. I lead a team of 30 specialists here, working to expand the private sector and support SMEs,” Durrani-Jamal noted.

She highlighted close cooperation with the Ministry of Economy, the Small and Medium Business Development Agency (SMBDA), and other partners to ensure entrepreneurs have access to resources, innovations, and sustainable development opportunities.

Durrani-Jamal emphasized that the ADB’s role goes beyond financing. “Our goal is to develop business potential, promote sustainable practices, and create an environment in which SMEs can flourish. Working with partners, we contribute to job creation, inclusive economic growth, and the long-term well-being of communities,” she said.

She added that SMEs are essential not only for economic activity but also for environmental sustainability. International and national partners, including Azerbaijani government agencies, are introducing incentive measures, tax breaks, and financing instruments to support the ecological transformation of businesses.

“One key initiative at COP29 was the Baku Climate Coalition dedicated to the green transition of SMEs. In the adopted declaration, parties agreed on two priorities: strengthening SME potential and stimulating business demand for environmental solutions,” Durrani-Jamal noted.