Non-Banking Credit Organization LLC Finca Azerbaijan plans for this year, finally, that to get a banking license.
As the director of the company in Azerbaijan Manish Sana'a policy of the Central Bank of Azerbaijan on this issue did not allow us to do this, but the Company does not intend to delay the transformation of the bank for the next year and intensified in this direction.
Finca Azerbaijan was established in 1998. It is part of an international network of microfinance Finca International. The company provides loans for a period of 4 to 24 months. The loan amount varies from $ 50 to $ 50 000. Interest rate on loans varies between 36-45.6%. - 15B -
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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