The active credit portfolio of the non-bank credit organization Ltd. Finca Azerbaijan increased in the first half of this year by $ 19.18 million or 16.4% to $ 136.39 million. The share of micro credits in the portfolio was 99.4%.
The assets of the company increased $26.48 million or 20.8% to $ 154.09 million. The total number of the customers increased over the period by 7.5% to 128.86 thousand persons.
The share of bad loans in the total loan portfolio decreased 0.03 percentage points to 0.16%, and this share in the micro credits decreased 0.02 percentage points to 0.17%.
For all the time, the company has granted loans totaling $ 206.33 million, including $ 205.22 million for micro crediting.
Finca Azerbaijan was established in 1998. It is part of Finca International. The company provides loans for a period of 4 to 24 months. The loan amount varies from $ 50 to $ 50,000. The interest rate on loans varies between 36 and 45.6%. - 15B -
Economics
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The first Russian-Iranian joint LNG plant is planned to be built in the Chelyabinsk region by 2027, as reported by Nikolai Isakov, Vice President and Executive Director of the Russian Gas Society. The joint venture will be developed by Kriogaz Chelyabinsk (Russia) and North-South Corridor Development Group (Iran).
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The Southern Gas Corridor (SGC) will expand by at least 1.2 billion cubic meters per year starting from January 2026, thanks to the capacity increase of its European segment, the Trans Adriatic Pipeline (TAP). By this time, the potential for transporting a blend of hydrogen with other low-carbon gases through TAP is expected to become clearer.
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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