TuranBank Secures Local Currency Loan from International Financial Institution
TuranBank, one of Azerbaijan’s leading banks in the financing of small and medium-sized enterprises (SMEs), continues to strengthen its successful partnerships with international financial institutions.
The Bank has signed a new loan agreement in local currency with the reputable “Covid-19 Emerging and Frontier Markets MSME Support Fund SCSp SICAV-RAIF,” managed by Switzerland’s leading impact investment manager, BlueOrchard Finance.
Under the agreement, the Covid-19 Emerging and Frontier Markets MSME Support Fund SCSp SICAV-RAIF has provided TuranBank with a synthetic loan equivalent to USD 5 million in local currency for a period of three years. This financing supports TuranBank’s strategic objectives to enhance its competitiveness and foster financial inclusion. The funds will be allocated to the financing of small and medium-sized enterprises (SMEs) throughout Azerbaijan, with a particular emphasis on regional development. By improving access to local currency financing for entrepreneurs, this initiative aims to strengthen the SME sector and contribute to the broader development of the country’s business environment.
It is worth noting that TuranBank, over its 33 years of continuous development and with a growing network of 22 service branches, has established a strong and reputable position in Azerbaijan’s financial sector—distinguished by both the quality and breadth of its services. As part of its strategic focus, the Bank actively attracts international credit lines to support micro, small, and medium-sized enterprises (MSMEs), playing a vital role in the sustainable development of the country’s non-oil economy. TuranBank has successfully partnered with leading international financial institutions including the Asian Development Bank (ADB), EMF Microfinance Fund (EMF), Black Sea Trade and Development Bank (BSTDB), Islamic Corporation for the Development of the Private Sector (ICD), Incofin Investment Fund (INCOFIN), ECO Trade and Development Bank (ECO TDB), among others — demonstrating a long-standing commitment to fostering entrepreneurship and regional economic growth.
TuranBank
