Baku: TuranBank has successfully attracted a local-currency loan from Invest in Visions (IIV), facilitated through the IIV Mikrofinanzfonds and IIV FINANCIAL INFRASTRUCTURE FUNDS, FCP RAIF – DKM MIKROFINANZFONDS A, in collaboration with Incofin Investment Fund. The investment aims to bolster financing for small and medium-sized enterprises (SMEs) in Azerbaijan.

According to Azerbaijan State News Agency, the international investors are providing TuranBank with a synthetic loan of USD 15 million equivalent in Azerbaijani manats (AZN), with a maturity of three years. This financial arrangement seeks to minimize foreign exchange risks for borrowers, thereby enhancing the financial stability of SMEs across the nation.

Sergej L. Shkolnikov, Senior Portfolio Manager at Invest in Visions, stated that the investment is directly supporting the economic growth of entrepreneurs in Azerbaijan. He emphasized the importance of access to long-term financing in local currency to enable growth, job creation, and local value creation. Shkolnikov expressed satisfaction in partnering with TuranBank and Incofin to improve financing conditions for SMEs.

Orkhan Garayev, Chairman of the Management Board of TuranBank OJSC, highlighted that the loan agreement with Invest in Vision Fund will reinforce the bank’s inclusive financing strategy. He noted that the funds are crucial for strengthening the business environment, supporting regional entrepreneurship, and fostering new economic opportunities. Garayev acknowledged the role of Incofin Investment Fund in structuring the transaction and expressed TuranBank’s commitment to expanding cooperation with international partners for socio-economic development projects.

Invest in Visions, founded in 2006, is known for providing institutional and private investors with access to impact-oriented investments in emerging and developing markets. The company focuses on microfinance and sustainable infrastructure to support responsible, long-term economic development.

TuranBank, with a 33-year history and 22 service networks, has been expanding its cooperation with international financial institutions to attract credit lines for micro, small, and medium-sized enterprises. The bank plays a significant role in supporting Azerbaijan’s non-oil sector’s sustainable development through various SME financing projects with reputable organizations like the Asian Development Bank, EMF Microfinance Fund, and others.