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 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.
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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.
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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.
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Azerbaijan’s Milli Majlis approved in the first reading on Monday the draft budget of the State Social Protection Fund (SFS) for 2025, projecting a deficit-free financial plan with revenues and expenditures balanced at 7.676 billion manats, a 10.45% increase from the previous year.
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