Kiva conducts regular, ongoing monitoring of all Field Partners, but only posts status updates here in response to relevant, major changes at the partner.

Partner Description

Mission: Our mission is to provide our members with lending services to establish and expand their private businesses and, through that, to improve their living condition and create employment opportunities. 

History and Impact: Komak, which means "help" in Azerbaijani, is a credit union established in 1999 by 20 union members. Since 1999, Komak has established relations with the World Bank, Kiva, Danish Refugee Council, Social Fund for Development of Internally Displaced People in Azerbaijan, PLANIS, IKA and TURAN Bank, and has disbursed hundreds of loans to borrowers throughout the country.

Today, Komak has 4 field offices serving Baku, the capital of Azerbaijan; Absheron, the densely populated region surrounding Baku; Khachmaz, Azerbaijan’s northernmost city; and the rural region of Fuzuli. All branch offices are engaged full-time in providing microfinance services to internally displaced persons (IDPs) and other low-income groups within Azerbaijan (IDPs are refugees who have not crossed an international border).

In 2007, the Mix Market, a leading source of performance data on MFIs around the world, awarded Komak a certificate of transparency with 5 diamonds, the highest award given. In 2009, Komak was cited in a report by the United Nations General Assembly as one of Azerbaijan's prominent forces in restoring the local economy by giving small and medium enterprises access to credit.

As of December 2011, Komak serves more than 1,800 active members. Out of these clients, 80% are IDPs, 40% are female, 44% are engaged in trading or retail, 40% in animal breeding, 11% in the service sector, 3% in small-scale production, and 2% in other agricultural affairs. Komak's total outstanding portfolio is approximately US$4.6 million, and its average loan amount is $2,600.

Komak began fundraising on Kiva at the end of 2006. Since then, they have lent nearly $3.25 million to 2,175 borrowers through Kiva.

Despite the success of Komak's work, the demand for microfinance services remains very high in Azerbaijan. The country’s rural regions, where the unemployment rate reaches 30%, face a particularly difficult economic situation. Access to credit remains rare due to the dearth of credit organizations working in outlying regions.

In order for Komak to achieve better outreach in serving IDP families and female clients, reach new regions of the country, and improve its financial and organizational sustainability, there is a need for additional funding.

Komak can be reached via email at Join its Kiva lending team, Friends of Komak, and visit its blog to learn more!

Learn more about Komak's work in this video. 

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Dec 9, 2006 Oct 12, 2005
Total Loans $4,786,825 $710,479,525
Amount of raised Inactive loans $0 $503,775
Number of raised Inactive loans 0 333
Amount of Paying Back Loans $386,925 $132,775,025
Number of Paying Back Loans 220 151,408
Amount of Ended Loans $4,399,900 $577,200,725
Number of Ended Loans 2,741 716,666
Delinquency Rate 0.00% 6.84%
Amount in Arrears $0 $5,921,947
Outstanding Portfolio $173,350 $86,633,720
Number of Loans Delinquent 0 19,311
Default Rate 0.04% 1.12%
Amount of Ended Loans Defaulted $1,768 $6,485,241
Amount of Ended Loans $4,399,900 $577,200,725
Number of Ended Loans Defaulted 1 19,256
Currency Exchange Loss Rate 0.63% 0.25%
Amount of Currency Exchange Loss $29,982 $1,755,454
Refund Rate 0.23% 0.68%
Amount of Refunded Loans $10,825 $4,860,600
Number of Refunded Loans 5 5,364

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 31.04% 74.33%
Average Loan Size $1,618 $417
Average Individual Loan Size $1,618 $654
Average Group Loan Size $0 $1,846
Average number of borrowers per group 0 8
Average GDP per capita (PPP) in local country $10,800 $5,942
Average Loan Size / GDP per capita (PPP) 14.98% 7.01%
Average Time to Fund a Loan 11.15 days 6.3 days
Average Dollars Raised Per Day Per Loan $145.13 $66.20
  Average Loan Term 14.04 months 10.74 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 435 350,131
  Journaling Rate 15.34% 41.47%
  Average Number of Comments Per Journal 0.34 0.07
  Average Number of Recommendations Per Journal 4.41 1.58

Borrowing Cost Comparison (based on 2012 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 5% PY 29.00% PY 32.02% PY
  Profitability (return on assets) 0.6% 4.7% -1.92%
  Average Loan Size (% of per capita income) 46.70% 27.00% 19.63%

Country Fast Facts

Field Partner Staff

Ali Abbas Abdullayev
Adam German
Aydin Huseynov
Afitab Isazade