Asian Development Bank wants to buy stake in Azerbaijani companies

Entrepreneurs in Azerbaijan are most often interested in credit products. But we can also participate as shareholders in the share capital, Sanan Shabanov, chief investment administrator of the Asian Development Bank (ADB), said at the 3rd Finance and Investment Forum in Baku, Report informs.

“For the most part, all entrepreneurs want to receive loans from us. However, we, as shareholders, have our own strategy, and if companies adopt it, we can sell our share within 5-7 years,” he said.

The ADB representative noted that today the amount of issued and repaid loans to Azerbaijan reaches $4 billion: “ADB is better known as a bank working with the public sector. But we have certain projects with the private sector. Our strategy for 2030 provides 7 goals for the implementation. One of them is to increase the share of the private sector in our investment and loan portfolio to one-third. Also, together with the Small and Medium Business Development Agency (KOBIA), we took part in the development of the bill on Public-Private Partnership, which has already passed the first reading in the parliament,” Shabanov said.