On January 1, the assets of Agrarkredit decreased by 700 thousand manat or 2.3% (at the beginning of last year it was 31 million AZN and by the end of the year it was 30.3 million AZN).
According to the non-banking institution, its loan portfolio is 26.5 million manat (an increase of 35.9%) in the shareholders' equity of 13.9 million AZN. The total income measured 5 million 508.6 thousand manat, and the pretax profit was 238.8 thousand manat.
Agrarkredit issued 3,812 loans totaling 14.3 million manat in rural lending from its own funds, including AZN 9.3 million for the development of livestock production, AZN 4 million for trade and services, and etc.
There were loans also through the National Fund for Entrepreneurship Support (NFES) - 470 local businesses on the periphery received 4.1 million manat. In the framework of the project Development of North-East funded by IFAD and the project North-Western Rural Development, 561 entrepreneur and a group of borrowers received 2.6 million manat.
Agrarkredit is the largest micro-finance organization in the country. It received the license to operate on 30 December 2003. Its shareholders are the Ministry of Finance, State Insurance Company Azersigorta and JSC Irrigation and Water Management. --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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