OREANDA-NEWS. September 08, 2009. The Azerbaijan Micro Finance Association (AMFA) has summarized results of its activity in the first half of 2009.

AMFA that on 1st July, the number of active members of the association on loaning exceeded 407,000.

“Over  a year, total loan portfolio of members of the association increased over three times and, reached US 1.81 million on 1st July 2009,” the association said.

Share of cancelled loans over reported period made  US81,739 and the share of risky loans – 6.55% of portfolio.

For comparison, on 1st July 2008, total loan portfolio of members of the association made up US 561.934 million.

The report was drawn up on activity of 30 microloan organization- members of AMFA.

AMFA was established in 2001 in order to strengthen potential possibilities of the country’s  microfinance organizations and creation of conditions for joint rational activity within the frames of interests of microfinance community.