Azerbaijan among top five recipients of sovereign financing in Eurasia

Azerbaijan ranked among the five largest recipients of sovereign financing in the Eurasian region in the first half of 2026, according to the Eurasian Fund for Stabilisation and Development (EFSD).

The country secured $810 million in sovereign financing approved by international financial institutions, development agencies and climate funds between January and June, placing it fourth among the 13 recipient countries covered by the study, Caliber.Az reports, citing local media.

Kazakhstan topped the ranking with $3.22 billion in approved financing, followed by Pakistan with $1.38 billion and Armenia with $880 million. Uzbekistan completed the top five with $690 million.

Overall, approved sovereign financing in the Eurasian region reached $7.8 billion during the first six months of 2026. EFSD member states accounted for $4.37 billion, or 55.4% of the total amount.

In addition to Kazakhstan, Armenia and Azerbaijan, significant financing volumes were also approved for Tajikistan, which received $160 million, and Kyrgyzstan, with $98 million.

EFSD data indicated the cumulative volume of sovereign financing approved by international financial institutions, development agencies and climate funds since 2008 exceeded $300 billion as of July 1, 2026.

EFSD Partnerships Department Director Gennady Vasilyev said the sovereign financing database had been created as a unified analytical system bringing together information on financing across the region.

"Today, the database covers operations worth more than $300 billion and allows for the analysis of long-term trends, shifts in sectoral priorities, the distribution of financing among countries and the activity of international financial institutions. Our task is to provide states, researchers and international organisations with open and convenient access to objective data," he added.

By Bakhtiyar Abbasov