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

Status update — April 20, 2016

Kiva received a repayment from AzerCredit in April 2016. We expect the organization to continue to repay sporadically as they receive repayments from borrowers, and we will settle those repayments out to lenders as they are received. Kiva staff remain in regular contact with AzerCredit and receive monthly status updates from the institution. In the wake of the 48% currency devaluation that occurred in Azerbaijan in December, many borrowers are having difficulties repaying their loans, so we expect future repayments to come in slowly.

Status update — January 25, 2016
Kiva is collaborating with a group of lenders to work toward recovering funds owed by AzerCredit. AzerCredit staff have been communicative and transparent throughout this lengthy process. Kiva staff met with AzerCredit staff in October 2015, and we expect to receive partial payment of funds due to Kiva lenders in early 2016. 

Status update — July 14, 2015
You may have noticed that AzerCredit's delinquency rate is higher than usual. AzerCredit is unable to send payment outside the country at this time. AzerCredit and World Vision are working with the authorities to resolve the situation. AzerCredit is sending regular updates to Kiva, and we will keep all lenders posted as we learn more. As soon as funds are received, they will be applied to the corresponding loans.


Partner Description:
Vision Fund AzerCredit was established in 1996 to provide credit to ensure people can take control over their own lives and livelihoods.

While VF AzerCredit works both in the urban and rural areas of Azerbaijan, the emphasis is placed on providing loans to micro and small rural entrepreneurs and self-employed poor, covering remote areas which are often considered not bankable. 
 
VF AzerCredit currently serves more than 80,000 active clients, including IDPs (Internally Displaced Persons), through its 47 branches mostly operating in rural areas. 
 

VF AzerCredit recently started active development of a reliable feedback system of customer grievance and suggestions. Client relationship management will be one of the core directions of VF AzerCredit in coming years.
 
VF AzerCredit is a member of the following networks: VisionFund International (VFI), Azerbaijan Micro Finance Association (AMFA) and Micro Finance Center (MFC).
 
A unique lending approach:

AzerCredit provides group loans, agriculture loans and household and family loans for small and micro entrepreneurs.
  


Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Nov 28, 2011 Oct 12, 2005
Total Loans $637,700 $852,703,725
Amount of raised Inactive loans $0 $400,425
Number of raised Inactive loans 0 195
Amount of Paying Back Loans $192,300 $136,496,400
Number of Paying Back Loans 127 165,616
Amount of Ended Loans $445,400 $715,806,900
Number of Ended Loans 302 887,129
Delinquency Rate 100.00% 8.49%
Amount in Arrears $64,757 $7,464,780
Outstanding Portfolio $64,757 $87,937,509
Number of Loans Delinquent 127 23,841
Default Rate 0.00% 1.29%
Amount of Ended Loans Defaulted $0 $9,262,536
Amount of Ended Loans $445,400 $715,806,900
Number of Ended Loans Defaulted 0 24,043
Currency Exchange Loss Rate 2.64% 0.43%
Amount of Currency Exchange Loss $16,844 $3,656,456
Refund Rate 0.20% 0.64%
Amount of Refunded Loans $1,275 $5,429,350
Number of Refunded Loans 1 5,746

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 23.99% 74.81%
Average Loan Size $1,486 $408
Average Individual Loan Size $1,486 $642
Average Group Loan Size $0 $1,813
Average number of borrowers per group 0 7.8
Average GDP per capita (PPP) in local country $10,800 $5,939
Average Loan Size / GDP per capita (PPP) 13.76% 6.87%
Average Time to Fund a Loan 16.76 days 6.89 days
Average Dollars Raised Per Day Per Loan $88.65 $59.19
  Average Loan Term 13.79 months 11.03 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 281 433,033
  Journaling Rate 34.03% 41.44%
  Average Number of Comments Per Journal 0.00 0.05
  Average Number of Recommendations Per Journal 0.00 1.30

Borrowing Cost Comparison (based on 2013 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 43% PY 29.00% PY 27.46% PY
  Profitability (return on assets) 5.9% 4.7% -0.66%
  Average Loan Size (% of per capita income) 13.20% 27.00% 19.32%

Country Fast Facts

Field Partner Staff

Shahla Alibayli
Chris Paci