Sowing the seeds of success in Azerbaijan
How IFC funding is supporting the country's women farmers
In Azerbaijan, especially in the country's rural areas, women entrepreneurs often struggle to overcome traditional gender roles, hampering their ability to support local economies and contribute to their communities.
Access to finance is a particular challenge for women aiming to expand their businesses, since few have the chance to accumulate the savings they need for collateral. While many rural women generate income from their farms, fewer women than men in the country own land.
Women entrepreneurs and owners of micro-businesses were also hardest hit by the loss of income during the COVID-19 pandemic, with their businesses 20 percent more affected than those led by men, according to a national survey.
To help address this and boost access to finance for smaller businesses—and women entrepreneurs especially—IFC provided a financing package of $35 million to one of the country’s leading banks, Bank Respublika, in January 2023.
The project was supported by the Women Entrepreneurs Finance Initiative (We-Fi), of which IFC is an implementing partner, and the Women Entrepreneurs Opportunity Facility (WEOF)—a partnership between IFC and Goldman Sachs 10,000 Women that also aims to boost financing for women.
The financing package comprised $20 million from IFC and a further $15 million in mobilization from the European Fund for Southeast Europe. Around 50 percent of the funds were earmarked for women-owned micro and small and medium enterprises (MSMEs), improving their access to much-needed finance.
By the end of 2023, Bank Respublika’s volume of loans to micro and smaller businesses had almost doubled, while the volume of loans provided to women-led MSMEs more than tripled.
We explore the journeys of three women—Hubeyda Abiyeva from Lankaran, Ulduz Mammadova from Astara, and Asiyat Qarajayeva from Zagatala—who benefited from the funding.
Their stories also highlight the growing trend of female involvement in agriculture in Azerbaijan, a sector crucial to its rural economy.
Hubeyda
“My dream is to sell abundant products and earn a good income.”
Hubeyda Abiyeva owns a 12-hectare citrus orchard in the city of Lankaran, on the coast of the Caspian Sea, where she grows lemons, mandarins, and oranges. She primarily sells wholesale to local markets, though she dreams one day of expanding into international markets.
Her journey began with a desire to cultivate the land she inherited.
“I have always been a gardener, growing trees in my yard. That led me to expand my efforts into a larger orchard,” she says.
Hubeyda Abiyeva strolls through her citrus orchard in Lankaran.
Abiyeva used a loan from Bank Respublika to buy a small tractor and establish an irrigation system in her orchard. She had no difficulties securing the loan as she had a good credit history with the bank.
Although sales are not high, her business employs six workers, relying on additional financial help from her husband abroad. Family members also help, especially during peak seasons.
Abiyeva’s daughter-in-law Aytekin Abiyeva and cousin Kamil Bagirov help clear weeds from the orchard.
Abiyeva’s daughter-in-law Aytekin Abiyeva and cousin Kamil Bagirov help clear weeds from the orchard.
Ultimately, she says, women “are as capable as men. Men are often given these opportunities, but women are just as capable of handling them.
“We plan to start exporting our products to other countries to solve the current challenges.
"My long-term dream is to sell abundant products and earn a good income.”
Asiyat
“I’m proud to produce natural products for my people”
Asiyat Qarajayeva, 56, runs a 20-hectare agricultural enterprise in Zagatala, a city in the Sheki-Zagatala Region on the slopes of the Caucasus Mountains.
Her business focuses mainly on hazelnut production (3-5 tons annually), honey production (700-800 kg), and dairy farming (she sells 100 liters of milk daily).
Qarajayeva preparing her cows for milking.
Her primary goal, she says, is “to produce natural products for the country”—something that has been passed down to her family from previous generations, including her father and grandfather. Her small business currently has 45 beehives, which she hopes to develop further.
Qarajayeva used her loan from Bank Respublika to invest in livestock—purchasing 10 head of cattle from Europe—and to repair the roof of her farm’s barn. These investments have allowed her to not only scale her operations but also ensure the sustainability of her business.
Qarajayeva was able to repair the roof of her barn using the loan funds.
Qarajayeva was able to repair the roof of her barn using the loan funds.
She currently sells primarily to residents and sends some products to Baku via bus, using social media and word-of-mouth recommendations to market her products. Her farm supports three regular workers, with additional seasonal workers for the hazelnut harvest.
Ulduz
“I plan to significantly increase production and expand livestock.”
Ulduz Mammadova, 48, from Saliva Village in Astara has a passion for farming. She cultivates feijoa—an exotic fruit also known as a pineapple guava—as well as lemons, oranges, and mandarins, and has also diversified her work by engaging in livestock farming.
Mammadova's brother-in-law Ilham Mammadov helps her on the farm.
Mammadova's brother-in-law Ilham Mammadov helps her on the farm.
Her business sells both wholesale and retail, with traders also purchasing directly from her farm. Her husband plays a crucial role in transporting and marketing their products to cities including the capital Baku, Ganja, and Lankaran.
Mammadova used her loan from Bank Respublika to invest further in the farm and boost production.
“I purchased land, planted additional crops, and set up a water system. That has significantly expanded the farm,” she says.
Mammadova and her brother-in-law in the farm.
Her aim now is to continue to increase production—boosting her annual fruit harvest from 10 tons to 30 tons—and expand her livestock.
In the meantime, she is grateful for her business, which not only supports her financially but also enables her to contribute to her community.
"Women are as capable as men. Men are often given these opportunities, but women are just as capable of handling them."
Hübeydə Abiyeva, Woman farmer, Azerbaijan
PUBLISHED IN NOVEMBER 2024
