Azerbaijan Micro-finance Association supports female entrepreneurs affected by COVID-19

Azerbaijan Micro-finance Association supports female entrepreneurs affected by COVID-19

BAKU, Azerbaijan, May 30

By Fidan Babayeva - Trend:

Azerbaijan Micro-finance Association (AMFA) started implementation of the project aimed at economic support to rural women affected by the COVID-19 pandemic in Azerbaijan's Nakhchivan Autonomous Republic, the association’s Executive Director Jala Hajiyeva told Trend.

This project is part of a larger program to promote the active and effective participation of civil society organizations in the development and implementation of the national agenda to achieve gender-sensitive sustainable development goals, as well as strengthen gender equality and empower women, which is in line with the five sustainable development goals of the United Nations Development Program (UNDP), co-financed by the EU and UNDP.

"The goal of the proposed activities is to minimize economic damage, to support rural women including women with disabilities, in generating income during the post-coronavirus period, as well as to study the post-coronavirus economic phase," she said.

“Azerbaijan Microfinance Association has implemented more than 50 international projects,” Hajiyeva noted. “Encouragement of female entrepreneurship will be among the main activities of AMFA this year.”

"The ongoing AMFA projects in Nakhchivan and the Ismayilli district are aimed at empowering rural women for developing entrepreneurial skills, expanding market opportunities and providing them with financial support. During the year of implementation, 390 women from Nakhchivan Autonomous Republic and 71 women from Ismayilli district participated in the project; 47 of them are women with disabilities, and others are from low-income families," she stressed.

Microfinancing was introduced in Azerbaijan in the mid-1990s to meet the economic needs of up to 1 million internally displaced persons (IDP) and refugees, as a result of the Nagorno-Karabakh conflict.

In 1996, the International Non-Governmental Organizations (INGOs) began offering microfinancing services to low-income locals and war-affected people to create income and employment opportunities.

The INGO began to meet informally to exchange business experience and remove restrictions on the provision of loans with interest rates. In December 2001, members of INGOs decided to consummate the group as an association, which will serve as the focal point for microfinance in Azerbaijan.

---

Follow the author on Twitter: Fidan_Babaeva

Subscribe to Trend in Google News! Subscribe
Weekly review of key events in Azerbaijan's ICT sector
Weekly review of key events in Azerbaijan's ICT sector
Azerbaijan, Singapore to co-op in construction of geostationary satellites
Azerbaijan, Singapore to co-op in construction of geostationary satellites
Russian company may set up 'smart' bus stops in Azerbaijan's liberated lands
Russian company may set up 'smart' bus stops in Azerbaijan's liberated lands
Loading Bars
Latest
Israel, UAE sign 'green corridor' agreement for vaccinated passengers - Israeli consulate in Dubai
Turkmenistan to connect grids of its Akhal, Balkan regions with new high-voltage line
Iran reveals COVID-19 data for October 24
Relations between Iran and Azerbaijan to continue based on mutual respect - Iranian FM
Kazakhstan boosts revenues from transporting cargo by air
Azerbaijan sees rise in total assets of local banks in September 2021
Georgia reports 3,436 coronavirus cases, 4,483 recoveries, 43 deaths
Azerbaijani MoD publishes video on events that took place last year this week (VIDEO)
Uzbekistan's CEC talks voters turnout as of 11.00
Total value of mortgage loans issued by Azerbaijani banks up in 9M2021
Prices of potatoes change in Uzbekistan
First VP Mehriban Aliyeva shares photo from visit to Zangilan with President Ilham Aliyev (PHOTO)
Daily COVID-19 case count at 1,677 in Kazakhstan
96 new positive cases of coronavirus detected in Kyrgyzstan
Azerbaijani banks increase issuance of consumer loans
Presidential elections kick off in Uzbekistan
Cargo ship on fire, spewing toxic gas off Canada’s Pacific coast: Officials
Tesla hikes price of Model X, Model S variants by $5,000
IRICA shares data on import of COVID-19 vaccine to Iran
Japan keen to invest in restoration of Azerbaijan's liberated lands
1,677 more COVID-19 cases reported in Kazakhstan
1 dead, 7 injured in shooting at off-campus party near Georgia university
Tesla posts a $1.62 billion profit in Q3 despite difficult car market
198 illegal migrants rescued off Libyan coast
10 envoys to be declared persona non grata: Erdogan
UN's Guterres welcomes Saudi Arabia's climate initiatives in call with King Salman
Presidential elections to be held in Uzbekistan
UK says substantial differences remain with EU over N.Ireland trade
New migrant caravan in Mexico pushes past blockade to head north
Aramco aims for net zero emissions from operations by 2050, CEO says
U.S. administers nearly 413 mln doses of COVID-19 vaccines
Chronicles of Victory: Azerbaijani president gives interview to Le Figaro newspaper on October 24, 2020 (PHOTO/VIDEO)
Chronicles of Victory: October 24, 2020
Buy/sell operations at Iran Mercantile Exchange growing
Iran unveils details of its trade turnover via Astara customs
Putin invites Israeli prime minister to visit St. Petersburg
Iran's Energy Exchange announces products to be on sale on October 24
Turkmenistan launches production of new types of paving slabs
Azerbaijani banks ramp up business lending since early 2021
Georgia and Ukraine talk cooperation within European integration
Iran reveals COVID-19 data for October 23
UK records another 44,985 new coronavirus cases
Tactical-Special Exercises of Azerbaijani Special Forces end (VIDEO)
First Vice-President Mehriban Aliyeva shared photos from Aghali village of Zangilan district on her official Instagram page (PHOTO)
Azerbaijani, Iranian FMs talk recent relations developments
Members of Nizami Ganjavi International Center join call towards cop26
Arayik Harutyunyan's visit to Russia is solely private - embassy of Azerbaijan
NATO not ready for equal dialogue with Moscow - Russian defence chief
Saudi-led coalition says destroys Houthi vessels, bomb-laden boats site
Kazakhstan updates forecast for completion of grain harvesting
IRENEX shares data on sales of Sepahan Oil Company in energy exchange
EIB to help reduce COVID-19 effects on Georgian SMEs
Moscow comments on reports about holding Russia-Armenia-Azerbaijan summit on Nov.2021
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 2,315 more COVID-19 cases, 981 recoveries
First Vice-President Mehriban Aliyeva shared footage from Zangilan visit on her Instagram page (VIDEO)
Turkmenistan to participate in EXPO-2025
Georgia and Ukraine sign protocol on economic cooperation
Weekly review of key events in Azerbaijan's ICT sector
Azerbaijan's liberated lands to contribute to expansion of TRACECA corridor - minister
Weekly review of main events in Azerbaijan's transport sector
Saudi Arabia targets net zero emissions by 2060
Russia registers an all-time high of 37,678 coronavirus cases in past day
Uzbekistan eyes foreign technology for better local polymer production
Turkmen delegation to pay working visit to Iran
Azerbaijan records growth in loan portfolio of local banks in 9M2021
Turkmenistan’s Turkmenbashi refinery eyes producing hydrogen
Azerbaijan, Singapore to co-op in construction of geostationary satellites
IRICA shares data on Iran's trade turnover with SCO member states
Iran sees increase in exports of non-oil products from Hormozgan Province
Weekly review of Azerbaijani precious metals market
Kazakhstan unveils trade indicators with its TOP-3 EU partners
Turkmenistan approves new procedure for allocating investments from Stabilization Fund
Azerbaijani MoD observes exercises in liberated Lachin district (VIDEO)
Russian Health Ministry greenlights joint COVID-19 and flu vaccination
Central Bank discloses volume of loans issued to Azerbaijan's districts
Georgia records surge in tourist visits from Uzbekistan
Tourist inflow from Kazakhstan to Georgia soars
Iran boosts exports through customs of Zanjan Province
Azerbaijan notes decrease in banking sector' profit
Azerbaijan sees rise in mortgage lending
Iranian currency rates for October 23
Weekly review of Azerbaijani currency market
Georgia releases data on COVID-19 cases for October 23
New customs post in Azerbaijan to speed up cargo movement along North-South corridor (PHOTO)
Azerbaijan, Armenia to sign new documents in Moscow
Azerbaijani oil prices increase
Georgia sees decrease in tourist inflow from Azerbaijan
Turkmen company to purchase material, technical resources via tender
Kazakh energy company opens tender to buy metal corners
Kazakh oil company opens tender to buy spares
Kazakh KazMunayTeniz opens tender for Caterpillar equipment maintenance
Azerbaijan's Central Bank unveils data on currency exchange operations for Jan. through Sept. 2021
Azerbaijani fund presents concept for restoration of liberated territories
EDB purchases bonds of Kazakh KEGOC JSC
US corporate workers to start returning to offices next month
Iran changes pricing of petrochemical products at its mercantile exchange
Iran's foreign exchange needs trigger to expand exports
Surge of energy prices puts Europeans in stalemate (VIDEO)
Chinese company opens massive eco-friendly mine in Serbia
All news