FINCA Azerbaijan to Extend its Credit Portfolio to $80mln
Azerbaijan, Baku, 30 June / Trend corr. U.Ismayilova / The non-bank credit organization FINCA is to extend its credit portfolio to $80mln and number of customers - to 100,000 until the end of the year, Rupert Scofield, Executive Director of FINCA International, said in the news-conference dedicated to 10th anniversary of the organization performance in Azerbaijan.
"Organization plans to extend its portfolio to $208mln and number of customers -to 200,000 until 2012," Scofield said.
At present, the credit portfolio of the organization is $60.6mln and number of customer reaches 81,000.
According to Scofield, 30% of the credit portfolio makes up small credits for agriculture, 40% - credits allocated to internally displaced persons, 10% - to refugees and 50% - to poor.
FINCA Azerbaijan is a share of micro financial organizations of FINCA International performing in 22 countries. Organization has been operating in Azerbaijan since 1998 through support of the United States Agency on International Development (USAID). FINCA Azerbaijan has 55 branches in the regions of the country.
The credit portfolio in Azerbaijan comprises 1/6 of the total credit portfolio of FINCA International ($350mln).
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