Total loan portfolio of microfinance in Azerbaijan increased in October this year at $ 18 million or 1.8%, to $ 1,033 million for 544 thousand customers.
Since the beginning of the year the figure rose by $ 222 million or 27.4 %, and for the year - by $ 268 million or 35 percent. 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 of its members remains Accessbank, which accounted for 31.8 % of all micro loans.
Total consideration was based on 31 microfinance institutions in the country. Their total assets amounted to $ 4.796 billion; among micro credit borrowers 27 % were women.
The report reflected AMFA loans ranging from $ 100 to $ 20,000. - 15V -
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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