Azerbaijan, Baku, Sept.7. / Trend N. Ismayilova /
One more bank will become a member of the Azerbaijan Micro-Finance Association (AMFA), the AMFA said on Sept.7.
At present the association is negotiating with the bank and it is expected that the bank's membership process will be completed in a month, the same source said.
In October 2008 Bank Respublika and the Savings Banks Foundation for International Cooperation (SBFIC), which is a consultant and credit guarantee fund, established in Azerbaijan by Germany's development bank KfW and the Azerbaijan-Germany Fund, joined the AMFA.
14 micro finance organizations of the 18 operating in Azerbaijan are members of the AMFA.
At present the association has 26 members, including 11 banks.
The AMFA was established in 2001 to strengthen the potential of microfinance organizations in the country and create conditions for joint management activities in the interests of the microfinance community.
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