BAKU, June 28, 2008 – FINCA Azerbaijan within the framework of its “10 YEARS TOGETHER” anniversary campaign held a Press Conference on the occasion of its 10 year anniversary.

Jeff Flowers, the Country Director of FINCA Azerbaijan announced that 10 years ago, on June 22 1998, FINCA Azerbaijan disbursed its first loan and celebrates this date as its milestone of starting activities in Azerbaijan. Since then, FINCA Azerbaijan has grown to become the leading non-bank credit organization in Azerbaijan with national operations covering 24 branches and 30 satellite offices serving 55 regions of the country. FINCA Azerbaijan is a non-bank credit organization, operating under limited license from the National Bank of Azerbaijan and is an affiliate of the FINCA International, a network of microfinance institutions operating in 21 countries around the world. FINCA Azerbaijan is a well-established transparent financial institution with international backing and it is as well one of the leading employers in the country with close to 700 employees.

The following statements were also stressed in the press conference:

-          During its 10 years activity, FINCA Azerbaijan has been providing loans to business owners and entrepreneurs who need additional resources to support the expansion of their businesses, purchase equipment and other fixed assets, refurbish business space, and purchase additional inventory or inputs.

-          Our loans are available to both Groups and Individuals.

-          Our procedures are simple and require minimal paperwork and uncomplicated business plan.

-          FINCA Azerbaijan operates out of 55 conveniently-located offices around the country and has almost 700 staff members working hard to deliver the loans on time and with minimum demands on its clients’ time.

-          Currently FINCA Azerbaijan is serving over 81,000 customers throughout Azerbaijan and plans to outreach close to 100,000 by the end of the year.

Rupert Scofield, the CEO of FINCA International also made the following statements: 
 

“We are enormously proud of FINCA Azerbaijan because it’s not only a best practice institution but it is also the largest program among FINCA Eurasia (7 Regional Programs). Because of its exemplary performance it has the backing of International Investors, Donors and Corporations.”

According to published data and the global league tables from the Microfinance Information Exchange Inc, FINCA Azerbaijan is among the TOP 100 MFI’s in the world. The mission of FINCA Azerbaijan is to provide financial services to Azerbaijan’s lowest-income entrepreneurs so they can create jobs build assets and improve their standard of living.

Jahid Majidov
FINCA Azerbaijan