PRESS RELEASE: Microfinance Information eXchange (MIX) and Azerbaijan Micro-finance Association (AMFA) Release Benchmarking Azerbaijan Microfinance Report

Source: Microfinance Information eXchange (MIX)

Original press release available here.

MIX (Microfinance Information eXchange) and Azerbaijan Micro-finance Association (AMFA) released the report Benchmarking Azerbaijan Microfinance 2006, giving an in-depth analysis of the microfinance sector in that country, including benchmarks of 11 MFIs [microfinance institutions].

The report shows that macroeconomic factors – including dynamic development – and regulatory issues heavily impacted the segment in 2006. MFIs in Azerbaijan have had to adjust to a rapidly changing macroeconomic environment, with high inflation and rising income levels. Local financing has been restricted, and access to financing in rural areas is limited. Despite these challenges, this young sector continues to grow and strengthen, with MFI branches opening in four untapped regions of the country.

The Azerbaijan Micro-finance Association was established by ten international non-governmental organizations in 2001 to educate and inform the broader community about the importance of microfinance in the country and to serve as a focal point of microfinance for the region. AMFA currently consists of 22 member organizations, focused on providing income and employment opportunities to the country’s poorest populations.

The Microfinance Information eXchange, Inc. (MIX) is the leading provider of business information and data services for the microfinance industry. Dedicated to strengthening the microfinance sector by promoting transparency, MIX provides detailed performance and financial information on microfinance institutions, investors, networks and service providers associated with the industry. MIX does this through a variety of publicly available platforms, including MIX Market and the MicroBanking Bulletin.

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