The European Bank for Reconstruction and Development (EBRD) has approved a trade finance limit of up to US$ 50 million (€46.7 million) for the International Bank of Azerbaijan (IBA) under its Trade Facilitation Programme (TFP). This inaugural agreement with Azerbaijan’s largest lender was signed at the United Nations Climate Change Conference (COP29) in Baku.
The newly established facility, aimed at supporting export and import operations for the benefit of private clients, will enable IBA to further expand trade transactions with the international banking community, deepening Azerbaijan’s integration into global markets. The agreement is also testament to the EBRD’s increasing support for Azerbaijan’s financial sector.
“We are confident that this trade finance line will add significant value to Azerbaijan’s financial sector and its clients while supporting Azerbaijan’s foreign trade. Concurrently, the EBRD will advise IBA on identifying and structuring green transactions,” EBRD President Odile Renaud-Basso said.
The EBRD is a leading institutional investor in Azerbaijan, having invested over €3.7 billion through 191 projects in the country to date.
