FINCA Azerbaijan signs cooperation agreement with Save the Children
Azerbaijan, Baku, Oct. 2 / Trend /
Within the framework of its Corporate Social Responsibility projects "FINCA Azerbaijan" Non-banking Credit Organization signed a contract on cooperation with Save the Children in Azerbaijan, the company said today. Under this partnership FINCA Azerbaijan will provide match funding (8000 Euro) to Special Economic Action for the Blind Program (SEAB) being implemented by Save the Children from February 1, 2012 under support from European Union.
The overall goal of the SEAB program is to reduce poverty among a specific vulnerable population - the sight-impaired - by helping to create sustainable income generation capabilities for group members of Association for Blind Persons (ABPs) and their families in Ganja region.
The specific objective of the program is to "create access to production, sales/marketing and financial literacy training leading to improved economic opportunities for two Associations of Blind Persons and their members in Azerbaijan." The project is implemented under strong cooperation with Central Association for Blind Persons based in Baku and the Local Executive Committee in Ganja.
Save the Children will use the match fund by FINCA to purchase the market demanded business equipments for ABPs to expand their working capital/potential businesses by partnering with local private companies and micro finance institutions.
FINCA Azerbaijan is a subsidiary company of FINCA International a not-for-profit micro-financial services organization operating in 21 countries on five continents, creating a global network of shared expertise. FINCA's mission is providing financial services to low-income entrepreneurs so they can create jobs, build assets and improve their standard of living. As one of the leading MFIs in the country, FINCA Azerbaijan serves over 130,000 active clients through 29 branch and 35 sub-branch offices, providing clients with a range of financial products and services including Rural Group Loan, Solidarity Group Loan, Individual Express Loan, Small and Medium Entrepreneur's Loan, and Individual Agricultural Loans, enabling them to improve their livelihoods. FINCA Azerbaijan is committed to the highest commercial principles of performance and sustainability.