OREANDA-NEWS. September 16, 2008. The Azerbaijan Micro Finance Association (AMFA) has almost doubled active credit portfolio made by its members.

AMFA executive director Jalya Hajiyeva said that quantity of Association’s active clients and members on crediting is now 290,000 people.

“Overall active credit portfolio of the AMFA members to which no-bank credit organizations and commercial banks relate to makes up USD 600 million. Up to date these organizations financed USD 1.18 bn for financing small and medium business,” Hajiyeva said.

Currently the Association unites 24 organizations.

AMFA was founded in 2001 with the purpose to strengthen potential capacity of country’s microfinance organizations and create conditions of joint rational activity within the framework of microfinance community’s interests.