VF AzerCredit LLC (AzerCredit) is a strong player in the microfinance market in Azerbaijan. The microfinance institution offers individual and solidarity group lending products. AzerCredit provides loans to people with no access to the standard banking system. These are chiefly farmers and small independent traders in remote areas, but can also include refugees from the region of Nagorno-Karabakh, the subject of a dispute between Azerbaijan and its neighbour, Armenia. The loan from Triodos Fair Share Fund and Triodos Microfinance Fund will enable AzerCredit to continue to service this target group.
KEY INDICATORS AzerCredit at year-end 2012:
- number of loan clients: 59,751
- percentage female clients: 66%
- percentage rural clients: 74%
- average loan amount: EUR 725
- number of savings clients: -