The non-bank credit institution FINCA Azerbaijan has simplified the issuance of loans for customers with positive credit backgrounds. To re-loan does not require collateral or guarantees.
In the message the organization states that "new credit rules of FINCA Azerbaijan are focused on a simplified and easy access to business finance."
In May, the Asian Development Bank (ADB) approved granting $ 120 million to CJSC Access Bank, Demir Bank and FINCA Azerbaijan to increase microcredit and agricultural financing and lending to small and medium-sized enterprises.
At the same time the French credit institution PROPARCO first allocated FINCA Azerbaijan 11.5 million Euros to finance micro and small businesses in rural areas.
The credit portfolio of FINCA Azerbaijan is more than $ 200 million. Since 1998 it has issued more than one million loans. The rate of credit issued in manats and foreign currency is 25%, including commission fees. –0--
Economics
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Rashad Huseynov has been appointed as the new director of the Center for Agricultural Research under the Ministry of Agriculture, replacing Firdousi Fikretzade who led the center since 2019. Fikretzade stepped down from his position on June 10 at his own request.
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Since July 1, bus and metro fares have increased by 10 qəpik, reaching 50 qəpik. The fare for buses on the Baku-Sumgayit route has risen from 60 qəpik to 70 qəpik. However, it is reported that there has been no improvement in service quality following the price increase. According to complaints, air conditioners are not working on buses operating in the periphery, and overcrowding persists.
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Rovshan Najaf, President of the State Oil Company of the Republic of Azerbaijan (SOCAR), held a meeting with Bojan Kumer, Slovenia's Minister of Environment, Climate and Energy, to discuss bilateral cooperation in the energy sector.
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Azerbaijani Energy Minister Parviz Shahbazov met with a delegation led by the World Bank's Regional Director for the South Caucasus, Roland Price, to discuss the development of cooperation in the energy sector.
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