VF AzerCredit LLC (AzerCredit) is a strong player in the microfinance market in Azerbaijan. The microfinance institution offers individual and solidarity group lending products. AzerCredit provides loans to people with no access to the standard banking system. These are chiefly farmers and small independent traders in remote areas, but can also include refugees from the region of Nagorno-Karabakh, the subject of a dispute between Azerbaijan and its neighbour, Armenia. The loan from Triodos Fair Share Fund and Triodos Microfinance Fund will enable AzerCredit to continue to service this target group.
KEY INDICATORS AzerCredit at year-end 2012:
- number of loan clients: 59,751
- percentage female clients: 66%
- percentage rural clients: 74%
- average loan amount: EUR 725
- number of savings clients: -
Whoever you are, and wherever you live in the world, you are likely to want permanent access to financial services. Microfinance banks play a crucial role providing access to finance to an increasing number of people living on low-incomes. We finance microfinance institutions because they help to build inclusive financial sectors, where the majority of people have access to financial services, leading to a sustainable basis for balanced social and economic development.