Transcript Document
AQROINVEST CREDIT UNION Aqroinvest CU Baku 2007 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) Agroinvest Sources of Funding SKMF 6% KIVA 15% IKA 34% MKSIF 45% 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 Justice Cooperativeness Transparency Punctuality Responsibility Teamwork Agroinvest clients Agroinvest Loans Average Loan Amount 300-30 000 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 250 200 150 100 50 0 2003 50 Female Client 2004 88 Female Clients 2005 155 Female Clients 2006 181 Female Clients 2007 219 Female Clients Thousands Portfolio size 1 400 1 200 1 000 800 600 400 200 0 800 700 600 500 400 300 200 100 0 2003 2004 Gross Loan Portfolio 2005 2006 2007-11 Number of borrowers Aqroinvest Staff Contact Information AQROINVEST CREDIT UNION Address: Baku city, Matbuat av. 2, Botanical Institute Phone/Fax:(994 12) 510 61 90 (994 40) 211 00 81