Total loan portfolio of microfinance in Azerbaijan increased in July this year by $ 29.2 million, or 3.1% , to $ 970.232 million for 513 thousand customers.
Since the beginning of the year the figure rose to $ 159.681 million, or 19.7 %, and for the year - to $ 317.512 million or 48.6 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 30.9 % of all micro-credit .
Total registration was conducted on 32 microfinance institutions in the country. Their total assets amounted to $ 4.562 billion. Among the microcredit borrowers 28% were women.
The report reflected the AMFA loans ranging from $ 100 to $ 20,000. - 15V -
Economics
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The Agency for the Development of Small and Medium-Sized Businesses (KOBIA), in collaboration with the Ministries of Economy and Ecology and Natural Resources, organized a conference today in Baku focusing on the role of small and medium-sized enterprises (SMEs) in advancing the green economy.
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Under the golden September sun, the Third Grape and Wine Festival took place in Shamakhi, in the village of Meysari on September 7-8, 2024, drawing wine enthusiasts and tourists alike to celebrate Azerbaijan’s ancient winemaking traditions. Organized by the State Agency for Tourism, the festival highlighted the country’s efforts to rejuvenate its viticulture industry, with a focus on boosting local production and expanding export opportunities.
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Azerbaijan has spent over $1.6 billion on large-scale infrastructure projects, including the Crystal Hall for Eurovision, the Olympic Stadium in Baku, and the Shahdag ski resort. But according to Fikret Mamedov, a graduate of London Business School and director of Sage Solutions, this spending has not provided long-term benefits for the country’s economy.
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The outcome of the 44-day Second Karabakh War in 2020 has significantly reshaped the ranking of foreign direct investment (FDI) into Azerbaijan's economy, economist Gubad Ibadoglu said in an article. Recent data show a notable rise in investments from Russia, Turkey, and China, particularly targeting the liberated territories. However, Western investments have remained limited, as barriers such as monopolies, a lack of judicial independence, and the government's classification of states as "friendly" or "unfriendly" have dampened interest.
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