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NBCOs to be activated in lending to agriculture - agreement signed

08.04.2020,17:16


April 8, Fineko/abc.az. Non-bank credit organizations will increase their capabilities in lending to agriculture.

ABC.AZ reports that this is reflected in the new cooperation agreement signed between the Azerbaijan Microfinance Association (AMFA) and the International Finance Corporation (IFC), a member of the World Bank Group.

In addition, the AMFA members, in particular, will be able to use the agricultural risk assessment tool based on the IFC CLARA cash flow. This tool provides farmers with more convenient access to finance by automating the risk assessment and lending process.

Among the NBCOs that pay attention to agricultural lending, AqrarKredit CJSC, Finance for Development LLC, Viator Microcredit Azerbaycan LLC, and Qafqaz Kredit LLC have started using them.

CLARA is an Internet-based software designed for banks, non-bank credit organizations, and other participants in the agricultural value chain that provide loans to farmers.