The active loan portfolio of non-bank credit organization LLC "Finance for Development" in January-September this year increased by $ 9 million or 61.1% to $ 23.71 million
Assets of the company during the reporting period increased $ 6.72 million or 35.5 % to $ 25.68 million and the total number of customers increased 4.7% to 11,117 people.
The share of problem loans in the portfolios of the company decreased 0.20 percentage points to 0.30%. 20.80 % of borrowers were women (7.87 percentage points less than it was at the end of last year).
The non-bank credit organization of Azerbaijan Finance for Development started its operations in Azerbaijan in 1997, the international humanitarian organization Oxfam. FINCA activities aimed at lending the 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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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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