PROPARCO Became FINCA’s Newest Financial Partner

PROPARCO became FINCA’s newest financial partner, providing a local currency credit line to FINCA Azerbaijan for on-lending to small business owners so they can increase income and create jobs.

FINCA Azerbaijan is the leading microfinance institution in Azerbaijan, serving businesses across the country with loans and other services, including for agriculture. It currently has more than 150,000 borrowers and an outstanding loan portfolio of USD 185 million. Since it opened doors in 1998, FINCA Azerbaijan has provided more than one million loans.

This credit line from PROPARCO will help us expand access to working capital loans for thousands of new and existing clients,” said Tim TARRANT, CEO of FINCA Azerbaijan. “Since it is in Azerbaijani Manat, it will help protect borrowers from currency fluctuations. It also represents further diversification of our funding base, which is good for FINCA as an institution.”

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