The non-bank credit institution FINCA Azerbaijan due to the new economic realities accompanied by a drop in the creditworthiness of borrowers extends the maturity of loans individually.
According to the report, it intends to convert foreign currency loans in manat liabilities and restructure the obligations of the clients, both in manats and US dollars.
In addition, on the basis of individual debt restructuring the organization plans to offer discounts on loan rates.
FINCA Azerbaijan has been operating in the country since 1998. Its services are used by 157,000 people. It has granted $ 1.76 billion to small and medium entrepreneurs. --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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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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