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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The State Oil Company of Azerbaijan (SOCAR), which joined the global Oil and Gas Methane Partnership 2.0 (OGMP 2.0) earlier this year, hosted a forum on November 15 within the "Green Zone" of COP29. The event, titled "OGMP 2.0 Leadership Forum," brought together key stakeholders to discuss progress and prospects for methane emissions reduction in the oil and gas industry.
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