The total volume of the microfinance portfolio of credit organizations is about 1.12 billion manats in
"As of the Q1, 2014, the customer base in this market reached 573,000 people. In total, some 4.7 percent of the Azerbaijani population uses microfinance services," she said.
At present, microloans are now considered the loans of up to 16,000 manats, according to the executive director.
"Herewith, until 2008, this rate stood at 10,000 manats. Its rise is due to both the inflationary processes, and overall economic growth of the national economy over the past years. An average loan issued to one borrower by the non-bank credit organizations is
The official exchange rate on
Translated by S.I.
Edited by C.N.
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