Total loan portfolio of microfinance in Azerbaijan rose in May of this year at $ 33.07 million , or 3.7% , to $ 920.310 million for 499 thousand customers.
Since the beginning of the year the figure rose by $ 109.76 million , or 13.5 %, and for the year - by $ 195.94 million or 27.05 percent. The share of risky loans compared with the beginning of the year increased by 1 percentage point to 2%.
According to the Azerbaijan Microfinance Association (AMFA), the largest creditor to its members remains Accessbank, which accounted for 31.3 % of all micro-credit .
Total registration was conducted on 33 microfinance institutions in the country. Their total assets amounted to $ 4.402 billion. Among the microcredit borrowers 28% were women.
The report reflected the AMFA loans ranging from $ 100 to $ 20,000. - 15V -
Economics
-
Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
-
The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
-
At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
-
This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
Leave a review