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 Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
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Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
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Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
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