Total loan portfolio of microfinance in Azerbaijan increased in August of this year at $ 26.98 million or 2.7% , to $ 997.21 million with 529 thousand customers.
Since the beginning of the year the figure rose by $ 186.659 million , or 23%, and for the year - by $ 257.05 million or 34.7 percent. The share of risky loans, compared with the beginning of the year remained unchanged, amounting to 1%.
According to the Azerbaijan Microfinance Association (AMFA), the largest creditor to its members remains Accessbank, which accounted for 31 % of all micro-credit.
Total registration was conducted on 32 microfinance institutions in the country. Their total assets amounted to $ 4.598 billion. Among the microcredit borrowers 28% were women.
The report reflected the AMFA loans ranging from $ 100 to $ 20,000. -15B-
Economics
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The State Oil Company of Azerbaijan (SOCAR) and Italy's Eni S.p.A. have signed a Memorandum of Understanding (MoU) focused on energy transition. Azerbaijani Economy Minister Mikail Jabbarov announced the agreement on his account on the social network "X".
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Azerbaijani Economy Minister Mikail Jabbarov met on July 29 with Ali Kibar, Chairman of Turkish conglomerate Kibar Holding, to discuss strengthening bilateral cooperation, boosting investment in industrial production, and supporting partnerships in the energy sector.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved the application form specified in Article 30.1 of the Competition Code. This decision aims to align with the President’s decree No. 1051-VIQ dated December 2, 2023, and address regulatory requirements related to the implementation of the Competition Code.
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Azerbaijani President Ilham Aliyev has issued a decree amending the Land Code of the Republic of Azerbaijan, effective January 2025. The legislative adjustments aim to refine the management and use of agricultural land and enhance regulatory processes.
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