Loans disbursed by MFBA cross $200mn threshold

Since its foundation MFBA has disbursed over 75,000 loans for over 200 million USD.
Baku, 17 September, 2007: Micro Finance Bank of Azerbaijan today crossed a new threshold having disbursed over 75,000 and 200 million US dollars in loans since its foundation in October 2002.
General Manager Andrew Pospielovsky, commenting on the achievement said “In less than five years Micro Finance Bank of Azerbaijan has become a leading agent for the development of the non-oil sector of the Azeri Economy. We have provided financing and helped over 30,000 Azeri businesses grow. During the five years MFBA has also developed and now, in addition to helping Azeri small businesses with loans, we provide a full range of banking services both to businesses and the general population of Azerbaijan.”
MFBA’s financing of Azeri business has only been possible due to MFBA’s success in attracting international investors. In the first 8 months of 2007 MFBA has already attracted more than USD 45 million from international investors for the development of Azeri business.