Eximbanka CEO Rastislav Podhorec and Director of the International Relations Department Matúš Šársky participated in a working visit to Azerbaijan as part of the delegation accompanying the President of the Slovak Republic. During the visit, they held talks with key institutional partners and, at the Azerbaijan-Slovakia Business Forum, presented opportunities to support Slovak exporters through Eximbanka’s financial, insurance, and guarantee instruments.
As part of the work program, Eximbank representatives held talks with Elnur Aliyev, Deputy Minister of Economy of Azerbaijan, and Ulvi Mansurov, Chairman of the Board of the Azerbaijan Business Development Fund (pictured together). The discussions focused on upcoming projects by Slovak companies and on financing and insurance options for those projects. The Azerbaijani side confirmed its interest in projects carried out by Slovak exporters with the support of Eximbanka and its financial partners.
“The negotiations confirmed that there is concrete interest in Slovak solutions and know-how in the Azerbaijani market. Eximbanka is ready to support viable projects and help Slovak companies further expand their operations in the country,” said Rastislav Podhorec, CEO of Eximbanka.
Eximbanka has a cooperation agreement with the Azerbaijan Business Development Fund dating from 2023. Recent negotiations have shown that there is now an opportunity to put this agreement into practice through specific projects that both institutions can support jointly. This confirms the importance of Eximbanka’s proactive approach, as it systematically builds a network of bilateral relationships with foreign partners so that, once a suitable project is identified, it can respond immediately and develop an effective support model.
A key topic of the working visit was the revitalization and reconstruction of the Karabakh region, where Slovak companies are already carrying out large-scale investment projects. One of the concrete outcomes of the talks is the confirmation of Eximbanka’s and its financial partners’ interest in supporting the further development of Slovak projects in the region. Slovak companies operating in the construction industry—particularly in the areas of design, project management, and construction supervision, have long-standing ties, strong references, and experience in Azerbaijan that they can build upon in upcoming development and infrastructure projects.
“Slovak companies have a good reputation and a proven track record in Azerbaijan. Our goal is to build on the successes Slovak companies have achieved in Azerbaijan so far and to support their involvement in other upcoming projects,” Rastislav Podhorec added.
Promising opportunities for cooperation are also emerging in the water management sector and the defense industry. Eximbanka has long supported Slovak companies operating in these sectors. Discussions during the working visit reaffirmed our interest in participating in viable projects in these sectors.
At yesterday’s Azerbaijan-Slovakia Business Forum, Eximbanka presented its options for direct and indirect financing, export credit insurance, and the provision of bank guarantees. At the same time, bank representatives held dozens of meetings with clients, entrepreneurs, and institutional partners from both countries, with discussions focusing on specific business opportunities and further possibilities for Slovak companies to participate in upcoming projects.
Throughout its history, Eximbanka has supported exports to Azerbaijan totaling more than 300 million euros. Its most significant project in the country was the construction and modernization of the infrastructure at Heydar Aliyev International Airport in Baku, carried out in cooperation with Czech partners. The working visit confirmed that Azerbaijan remains a promising market for Slovak companies and offers opportunities for further cooperation, particularly in the fields of infrastructure, construction, water management, and the defense industry.