Foreign investors don't want to make concessions to microfinance organizations in Azerbaijan

Baku. 7 June. REPORT.AZ/ Foreign investors, collaborating with non-bank credit organizations (NCOs) of Azerbaijan is not interested in extending the maturity of loans. Report was told by the Executive Director of Azerbaijan Microfinance Association (AMFA) Jala Hajiyeva.

According to her, this is related with a decrease in the country's rating by international rating agencies: "Taking this into account, foreign investors do not want to make concessions to microfinance institutions in Azerbaijan."

In addition, NCOs and customers are not interested in the restructuring of loans: "Most customers prefer to make payments in the usual way, in spite of the difficulties. In case of extension of the contract period, additional accrued interest must be paid that many people are not satisfied with it."

J.Hajiyeva also noted that today 30% of the loan portfolio accounted for non-performed loans (NPLs): "This figure has not changed since the beginning of the year."