A landmark agreement has been reached between the European Bank for Reconstruction and Development (EBRD) and Unibank of Azerbaijan, aimed at bolstering trade finance capabilities within the nation. During the EBRD’s 2025 Annual Meeting in London, a trade finance line valued up to $5 million was approved under the EBRD's Trade Facilitation Programme (TFP). This collaboration is designed to enhance private sector export and import operations by strengthening Unibank's international banking transactions. The initiative aligns with the EBRD's broader objective to support Azerbaijan's financial infrastructure, particularly its non-oil sectors.
This new facility marks an important milestone in Azerbaijan's economic strategy. By enabling Unibank to expand trade activities, it signifies a shift towards reinforcing the country’s commercial ties globally. George Orlov, the EBRD’s Financial Institutions Director for Central Asia, the Caucasus, and Türkiye, expressed optimism regarding this partnership. He emphasized that this transaction not only strengthens Unibank's trade finance portfolio but also boosts Azerbaijan's export-import dynamics significantly. The TFP operates across 27 economies worldwide, fostering robust relationships among over 130 issuing banks and more than 800 confirming banks, thereby enhancing regional trade networks.
Emin Rasulzade, Chief Investment Officer at Unibank, highlighted the pride associated with reaching this advanced stage of collaboration with the EBRD. He noted the importance of receiving acknowledgment from such a distinguished organization, which validates their efforts in advancing client-based foreign trade operations. According to him, this strategic alliance plays a crucial role in shaping Unibank's mission to nurture Azerbaijan's non-oil sectors through enhanced financial services.
Through the TFP, the EBRD extends guarantees to local institutions like Unibank, facilitating smoother trade processes while encouraging access to emerging markets. This initiative underscores the bank's commitment to promoting sustainable economic growth within Azerbaijan. As one of the leading institutional investors in the country, the EBRD continues to prioritize supporting non-oil industries alongside green economy investments as outlined in its renewed national strategy.
The establishment of this trade finance line exemplifies how partnerships can drive economic progress. By empowering Unibank to broaden its trade horizons, the EBRD contributes meaningfully to Azerbaijan's ambition of diversifying its economy beyond oil dependency. Such collaborations pave the way for increased competitiveness on global platforms and foster long-term prosperity for both parties involved.