TuranBank OJSC, one of the leading financial institutions supporting the development of the real sector in Azerbaijan, has signed a new cooperation agreement with Swiss impact asset manager responsAbility Investments AG as part of its strategy to strengthen its position in international financial markets and expand financing of the local economy.

Under the agreement, responsAbility Investments AG has provided TuranBank with funding equivalent to USD 10 million in local currency for a period of three years. The funds will be directed toward supporting Azerbaijan’s non-oil sector, particularly small and medium-sized enterprises (SMEs). The availability of financing in local currency will help protect entrepreneurs from foreign exchange risks and enable more favorable financing conditions for business projects.

Benoit Bouet, Head of FI Debt EECCA & MENA, responsAbility, said: “This transaction is a strong fit with our financial institutions lending strategy. By providing financing in local currency, we aim to support access to funding for small and medium-sized enterprises in Azerbaijan and contribute to the development of the local real economy.”

“Signing this new agreement with responsAbility is another strong indication of the trust placed in our Bank and our financial stability. Securing USD 10 million equivalent in local currency will not only improve access to finance for SMEs in Azerbaijan but also protect them from exchange rate risks. Through this partnership, we aim to further enhance financial inclusion in the country and expand our support to entrepreneurs in the regions. We remain committed to supporting the real sector and contributing to the sustainable development of Azerbaijan’s non-oil economy,” said Orkhan Garayev, Chairman of the Management Board of TuranBank OJSC.

This partnership once again confirms TuranBank’s credibility among international financial institutions, as well as its commitment to sustainable development principles and financial inclusion.

responsAbility is a leading Swiss impact asset manager focused on private market investments in emerging markets. The company provides debt and equity financing to financial institutions, enterprises and specialist and regional funds. Impact is embedded across the investment approach, with strategies designed to generate measurable positive outcomes for people and planet alongside competitive financial returns.

TuranBank OJSC was established in 1992 and is recognized as one of the most stable and reliable institutions in Azerbaijan’s financial sector. The Bank provides its clients with a wide range of financial services in accordance with international standards. Currently operating through 22 service points across the country, TuranBank has demonstrated sustainable growth over its 33 years of activity. The Bank stands out for its commitment to transparency, reliability, and social responsibility, continuing to play an important role in the national banking sector. For more information: www.turanbank.az