Over 60% of Azerbaijan Agro Credit and Development Agency's portfolio - bank funds

Over 60% of Azerbaijan Agro Credit and Development Agency's portfolio - bank funds

Economy
17 July 2019, 17:33 393
Some 67 percent of the loan portfolio of Azerbaijan’s Agro Credit and Development Agency (AKIA) was formed at the expense of bank funds, head of AKIA Mirza Aliyev said at a press conference on the results of the first half of the current year, Trend reports.
According to Aliyev, the remaining part is distributed between non-bank credit organizations (NBCO) at 19 percent and credit unions at 13 percent.
Aliyev noted that today AKIA cooperates with 10 banks, 11 NBCOs and 19 credit unions.
He also noted that 169 persons received loans worth about 11 million manats through the agency last year.
Until today, loans worth over 155 million manats have been issued to 4,400 persons.