The active loan portfolio of non-bank credit organization LLC Finca Azerbaijan increased during the 8 months of this year by $ 33.05 million or 21.6 % to $ 185.62 million. In the portfolio the fraction of microcredit was 99.4 %.
Assets of the company increased by $ 39.01 million , or 23.3 %, reaching on September 1, 2013 level of $ 205.88 million Total number of customers increased during the reporting period by 6.9 % to 146.51 thousand persons .
The share of problem loans in the total loan portfolio, compared with the beginning of the year, remained at 0.19 %, and micro lending rose by 0.04 percentage points to 0.19 %.
Total the company has issued loans totaling $ 791.43 million, including micro loans - $ 787.99 million.
Finca Azerbaijan was established in 1998. It is part of an international network of micro finance company Finca International. The company provides loans for a period of 4 to 24 months. The loan amount varies from $ 50 to $ 100 000 . The interest rate on the loans varies in the range of 21-36 %. - 15B-
Economics
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Russia could partially reroute its natural gas supplies to European countries through Turkey and Bulgaria, bypassing Ukraine, using the "Balkan Stream" and the Trans-Balkan Pipeline, according to Alexei Belogoryev, Director of Research at the Institute of Energy and Finance.
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Representatives of Azerbaijan's Land Transport Agency (AYNA) and the State Customs Committee visited the Julfa and Poldasht border checkpoints to address challenges in cargo transport and enhance border efficiency with Iran.
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The Azerbaijani government has adopted new guidelines to facilitate employment for individuals with special social protection needs and those facing difficulties in securing jobs. The resolution, approved on December 29 by the Cabinet of Ministers, outlines targeted programs aimed at job creation through public-private collaboration.
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The Cabinet of Ministers of Azerbaijan has approved new regulations to facilitate targeted employment programs aimed at supporting individuals with special social protection needs and those facing employment challenges. The measures, under the State Employment Agency, seek to enhance job creation in priority economic sectors.
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