The multilateral Asian Development Bank (ADB) recently raised AZN 14.5 million (USD 8.5 million) from UK-based Record Currency Management and Germany-based Capitulum Asset Management to fund inclusive finance for women and agriculture in Azerbaijan. The funding is channeled through a three-year bond at an annual interest rate of 6.25 percent. The proceeds are slated to support women operating micro-, small and medium-sized enterprises (MSMEs) in Azerbaijan’s food supply chain.
Established in 1966, ADB is a development finance institution headquartered in the Philippines and owned by its 68 member nations. ADB offers financial and technical assistance intended to support economic development and reduce poverty in Asia and the Pacific. During 2022, ADB issued commitments totaling USD 20.5 billion, ending the year with total assets of USD 290 billion and generating one-year return on equity of 4.2 percent and return on earning assets of 1.1 percent.
By Rohan Kumar Agarwal, Research Associate
Sources and Additional Resources
ADB press release
https://www.adb.org/news/adb-issues-gender-bond-denominated-azerbaijan-manat
Capitulum Asset Management homepage
https://www.capitulum-am.com/
Record Financial Group homepage
https://recordfg.com/
ADB 2022 financial report
https://www.adb.org/sites/default/files/institutional-document/872636/adb-financial-report-2022.pdf
ADB 2022 annual report
https://www.adb.org/sites/default/files/institutional-document/872636/adb-annual-report-2022.pdf
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