Active loan portfolio of non-bank credit organizations, LLC "Finance for Development" in January and April of this year increased by $ 3.17 million or 21.5% to $ 17.88 million
The assets of the company for the period increased by $ 830,000, or 4.3%, to $ 19.79 million total number of customers decreased by 2.3% to 10.38 million persons.
The share of problem loans in the portfolios of the Company increased by 0.31 percentage points and totaled 0.81%. Among borrowers 20.57% were women (by 8.03 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, the humanitarian organization Oxfam. The activity of "Finance for Development" is aimed at lending production of agricultural products (livestock, poultry farming, fish farming, bee-keeping, etc.) The organization provides loans from 100 up to 5,000 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
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) hosted its biannual Members' General Meeting in Baku on December 18, 2024, gathering over 80 business representatives to reflect on the chamber’s milestones and chart a path forward.
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