Azerbaijan a leader in the CIS microcredit market

Baku. 26 September. REPORT.AZ/ Kazakhstan is the largest microcredit market in the Commonwealth of Independent States (CIS) countries. 

Report informs, declares a report released by the Microfinance Information Exchange.

According to report, Kazakhstan is a leader in this sector with 33 percent ($ 464.3 million).

Azerbaijan ranks the second where total amount of micro loans is $337.6 million or 24 percent of the total volume in the CIS. Tajikistan - 3rd place with $ 191 million or 13.6 per cent of volume, Armenia - 4th place with 11.5 per cent of volume or $ 162 million, Kyrgyzstan - 5th place with 7 per cent of volume or $ 98 million.

This figure in Russia is $ 86.3 million (6.1%), Uzbekistan - $ 37.1 million (2.6%), Moldova $ 30 million (2.1%), and Ukraine just $ 700,000.

Azerbaijan ranks first for the number of microcredit borrowers – 274,800 persons. The country is followed by Kazakhstan (254.5 thsd), Tajikistan (232.4 thsd), Kyrgystan (156,000), Armenia (161,100), Russia (36,000), Moldova (19,3 thsd), Uzbekistan and Ukraine (700 each).