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10:32 23 October
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AMFA: Microfinance institutions see sharp decline in number of customers

"Number of customers of microfinance institutions sharply declined in the past three years”, Suleyman Kalashov, Chairman of Azerbaijan Microfinance Association, said in the Fifth Investors Fair in Baku entitled "The Future of Microfinance in Azerbaijan - Difficulties and Opportunities".

According to him, the microfinance institutions had 600,000 customers in 2015. Number of customers fell to 298,000 in 2016 and 118,000 in 2017: “The microfinance institutions’ loan portfolio amounted to $348 million in 2015, $80.1 million in 2017. I think this sector should be supported”.

 

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