The Azerbaijani project on development of leasing started by the International Finance Corporation and SECO in 2003 and the leasing turnover grew by 18 times from $1 million to $18 million. The number of the companies and organizations, involved in the leasing, increased from 3 to 24, Rendal Peterson, the Director of the project, told Trend.
“In 2005-2006 leasing turnover in Azerbaijan will grow to $80-100 million. 265 leasing projects are currently being financed in the country,” Petersen underlined.
Elchin Ahmadov, the representative of the project, noted that potential leasing portfolio in Azerbaijani estimated in $200-400 million. “7 leasing companies and 16 banks are conducting active operations. Total statutory capital of the companies exceeds $2.5 million. 6 companies and around 10 organizations will start their activities soon,” Ahmadov stressed.