The active loan portfolio of non-bank credit organization LLC Finance for Development in January and July of this year increased $ 5.19 million or 35.3 % to $ 19.9 million.
The assets of the company for the period increased $ 3.92 million or 20.6 % to $ 22.88 million and the total number of customers decreased by 3.4 % to 10.26 million persons.
The share of problem loans in the portfolio declined 0.03 percentage points to 0.47%. Among the borrowers 21.23% are women (7.44 percentage points less than it was at the end of last year).
Non-bank credit institution of Azerbaijan Finance for Development started its activity in Azerbaijan in 1997 by the humanitarian organization Oxfam. The activity is aimed at lending production of agricultural products (livestock, poultry farming, fish farming, bee-keeping, etc.). The organization provides loans of 100 to 5 thousand manat at a monthly interest rate of 2.25 % to 3 % for up to 18 months, both individually and in the form of groups. - 15B -
Economics
-
Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
-
The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
-
On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
-
Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
Leave a review