The active credit portfolio of the non-bank credit organization LLC Finance for Development in January-August this year increased by $ 2.99 million or 25% to $ 15.17 million.
Assets of the company for the period increased $ 3.9 million or 31.7% to $ 16.58 million and the total number of customers increased 15% to 10.15 thousand people.
The share of problem loans in the portfolio company decreased 0.35 percentage points to 1.50%. 29.35% of the borrowers are women (by 1.8 percentage points less than it was at the end of last year).
The non-bank credit institution of Azerbaijan Finance for Development was established in Azerbaijan in 1997, the humanitarian organization Oxfam. The activity aims to FINCA lending production of agricultural products (livestock, poultry, fish farming, bee-keeping, etc.). The organization provides loans of up to 5 100 thousand manat at a monthly interest rate of 2.25% -3% for up to 18 months, both individually and in the form of groups. - 15B -
Economics
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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