aqroinvest credit union aqroinvest cu baku 2007
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Geographical Position
Azerbaijan Republic situated on the Caspian Sea
Population – 8.5 millions(51% urban, 49% rural)
Area – 86,600 sq.km (20% under occupation) IDPs, Refugees - 1 million (12%) Main exports – Oil, oil products Inflation rate for FY 2006 -8.6%
Microfinance Statistics in Azerbaijan
14 NBCO, 76 Credit Unions, 5 Banks in MF Active clients 192 000, Portfolio 211 millions USD Target Group – IDPs, low-income people, rural poor Only 40 districts of total 70 are scarcely covered by MF AMFA, AKIA, National Bank involved in MF ADB, WB, EBRD, TACIS in Azerbaijan MF Microfinance future sustainable in Azerbaijan due to
below factors: high demand of micro loans unemployment rate being high government support to informal sector providing access to capital in free-market economy
Background 2001 Established in Imishli
2003 Opened branches in Sabirabad, Saatli & Bilasuvar IDP & Refugee Settlement
2007 Opened branch in Varkhankend village, IDP Settlement
Provides loan service to IDPs and rural poor
Staff-20 employees
Number of clients –1200
Portfolio - 1 263 757.45
About Aqroinvest CU
Partners: Ministry of Economic Development National Fund for
Entrepreneurship Support (SKMF)
Social Fund for Development of Internally Displaced Persons (MKSIF)
Credit Implementing Agency, Non Bank Lending Organization (IKA)
KIVA (US)
Azerbaijan Credit Union Association (AKIA)
Member of: Azerbaijan Microfinance Association (AMFA)
Micro Finance Center (MFC,Warsaw)
Our Vision, Mission, Goals
Vision is to become advanced credit union providing viable financial services for union member as well as playing an important role in financial sustainability and economic well-being of Azerbaijani people.
Mission is to become advanced credit union providing viable financial services for union member as well as playing an important role in financial sustainability and economic well-being of Azerbaijani people.
Goal is to ensure that its members, preferably rural poor and IDPs have an access to viable financial resources and take an advantage of using these resources to determine a sustainable economic future for them. tribute to the business development of the union members and vulnerable groups of people by demand-driven lending services with desirable depth, width and length of social outreach.
Agroinvest Values
Social JusticeSocial Justice
CooperativenessCooperativeness
TransparencyTransparency
PunctualityPunctuality
ResponsibilityResponsibility
TeamworkTeamwork
Agroinvest LoansAverage Loan
Amount300-30 000 USD
Product name Business & SME
Loan Term 3-36 months
Grace Period 1-6 months
Interest Payment 24-36% / per year
Interst Payment Declining balance, monthly
Repayment method
Flexible
Penalty 0.3% daily principle in arrears.
Lending modality Individual
Female clients Indicator 2003-2007
0
50
100
150
200
250
2003 50 FemaleClient2004 88 FemaleClients2005 155 FemaleClients2006 181 FemaleClients2007 219 FemaleClients
Portfolio size
0
200
400
600
800
1 000
1 200
1 400
2003 2004 2005 2006 2007-11
Thou
sand
s
0100200300400500600700800
Gross Loan Portfolio Number of borrowers