Azerbaijan’s Bank Respublika, OPEC Fund sign $20 million financing deal

Bank Respublika and the OPEC Fund for International Development have signed a $20 million, four-year loan agreement aimed at supporting private sector growth and expanding access to financing for micro, small and medium-sized enterprises (MSMEs) in Azerbaijan.

The agreement was signed by Bank Respublika Chairman Tariyel Ismayilov and OPEC Fund President Dr Abdulhamid Alkhalifa during the OPEC Fund Development Forum 2026 in Vienna, held to mark the organisation's 50th anniversary, Caliber.Az reports.

Azerbaijan's Deputy Economy Minister Anar Akhundov and Azerbaijan's Ambassador to Austria Rovshan Sadigbeyli also attended the signing ceremony.

Under the agreement, Bank Respublika will expand financing for the real sector of the economy by increasing lending to micro, small and medium-sized businesses. The funds will support projects aimed at promoting entrepreneurship, creating new jobs and fostering sustainable economic growth in Azerbaijan.

Alkhalifa described the agreement as a milestone for the OPEC Fund, noting that it represents the organisation's first loan in local currency.

"This instrument expands our ability to deliver innovative financial solutions and enhance support for our partner countries. Local currency financing plays an important role in reducing foreign exchange risks and encouraging investment. We are pleased that Bank Respublika, a trusted financial institution with which we share a commitment to sustainable economic development, is our first partner for such a transaction in Azerbaijan," he noted.

Ismayilov said the agreement represented more than financing, calling it "an important vote of confidence" from one of the world's leading international development finance institutions.

"We sincerely thank Dr Abdulhamid Alkhalifa and his outstanding team for their professionalism and warm hospitality. We are confident this agreement will mark the beginning of a successful and long-term partnership between Bank Respublika and the OPEC Fund," he added.

By Bakhtiyar Abbasov