Finance for Development expands the portfolio in January-April, up 21.5%
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
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review