The Khachmaz and Shabran regions have received regional branches of the non-bank credit institution FINCA Azerbaijan.
As stated in the press release of the financial agency, the new offices are designed to service 8,000 customers.
The branch in Khachmaz has attracted 3,000 customers in 2 years, bringing its loan portfolio to $ 3.3 million. Its counterpart in Shabran services customers in the Shabran, Khizi and Siyazan regions. For 8 years the number of its customers has reached 5,000 borrowers, who have been granted about $ 6 million.
FINCA Azerbaijan is present in 67 regions of the country, with 150,000 clients. The credit portfolio of the organization is estimated at $ 185 million. --17D-
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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