Azerbaijan, Baku, March 19 / Trend N. Ismayilova /
The International Finance Corporation (IFC) will provide FINCA Azerbaijan, the leading microfinance company in Azerbaijan, with $ 7 million, IFC said.
The loan will be used to finance expanding lending of micro and small business by the company.
At present, the company strives for long-term financing to continue dynamically developing and offering new products to its customers.
The project will support the efforts of FINCA Azerbaijan to diversify and increase funding.
The project will be considered by the IFC Board of Directors on April 14, 2011.
FINCA Azerbaijan is a share of micro financial organizations of FINCA International. Organization has been operating in Azerbaijan since 1998 through support of the United States Agency on International Development (USAID).