Non-bank credit organization LLC Finca Azerbaijan is planning to expand its branch network, reporters were told at a press conference at the end of January- June 2013 by the director of the financial structure Manish Sane. According to him, in the third quarter, opened a branch in Siyazan district, on the opening of the next stage of the autumn branch in the Absheron region and the following year clients will receive another 5 sub-offices.
The organization has 64 divisions (31 sub offices and 33 branches) in all regions of the country. According to the level of entrepreneurial activity, in the lead is the Absheron economic region (including the city of Baku and Sumgait ) which concentrated 15 % of the loan portfolio of LLC Finca Azerbaijan, while the remaining 85 % are spread over the rest of the country.
Another innovation of the year - the organization connected to the national payment system MilliOn, and has already installed 800 payment terminals across the country.
As a result, at the end of last year, this financial institution awarded the Ugur (Success) prize not only for economic activity, but also for participation in social and environmental projects.
Finca Azerbaijan was established in 1998. It is part of the international network of microfinance Finca International.
The company provides loans for a period of 4 to 24 months. The loan amount varies from $ 50 - $ 100 000. The interest rate on the loans varies in the range of 21-36 %. - 17B-
Economics
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The World Bank is in the final stages of drafting a new Partnership Framework Program (RFP) with Azerbaijan, set to cover the period from 2025 to 2029. This strategic development was revealed during a meeting between Azerbaijani Prime Minister Ali Asadov and Ines Rocha, Regional Director of the International Finance Corporation (IFC), a member of the World Bank Group. The framework is expected to be finalized and approved by the Executive Board of the World Bank in late October 2024, with key priorities focusing on public-private partnerships, sustainable development, and investment projects aimed at economic diversification.
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