The total current micro credit portfolio on Azerbaijan makes up $15.280 million
Published:
17 December 2003 y., Wednesday
The total current micro credit portfolio on Azerbaijan makes up $15.280 million. Over 28,000 people in the country are active customers of micro financing agencies (MFA).
The Micro Financing Association of Azerbaijan reports that 13 MFAs work in Azerbaijan, including the Azerbaijan Micro Financing Bank (AMFB) and the German Azerbaijan Fund (GAF).
The following non-bank credit organizations have allocated the biggest credits for the time of their activity: AzerCredit (World Vision) - $9.35 million, Finca-Azerbaijan - $9.15 million, GAF - $7.4 million, and Cred-Agro - $7.3 million. GAF and Cred-Agro have the biggest credit portfolio equal to $3.2 million each.
The resources of the KavkazCredit non-bank credit organization are the most accessible ones. The micro credits from $120 to $1,000 are allocated for 6-18 months under monthly 1%. The pawn credits of AMMB and the business credits of Finca Azerbaijan are the most expensive ones. They are given under 4-5% and 4-4.5% a month respectively.
Šaltinis:
Baku Today
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