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Koverochkin str. 13
AZ 1073

Contact: Gerlof de Korte, Executive Director
Phone: +994 4498475
Fax: +994 4980650

AzerCredit was established as a relief and development organization to provide loans to ensure people can take control over their own lives and livelihoods. AzerCredit works in both the urban and rural areas of Azerbaijan but the emphasis is placed on providing loan opportunities to rural businesses which would not otherwise have access to the formal banking system.


As a microfinance institution, WV Azercredit LLC, is seeking to improve the lives of the impoverished in Azerbaijan. Azercredit provide low interest rate loans to urban and rural entrepreneurs as startup capital or further investment capital for established businesses.

Client Population

AzerCredit serves clients throughout Azerbaijan with operations in Baku, Sumgait, Mingachevir, Ganja, Agjabadi, Horadiz (Fizuli), Imishli, Goranboy, Tar-Tar, and Shamkir. The organization supports bother rural and urban areas but focuses on providing loans to rural businesses which do not have access to formal banking. There are over 12,000 active clients, 43% of which are women.


In 2005, AzerCredit maintained 5,830 active borrowers with a portfolio at risk (PAR) of only 0.9%. Now the institution provides services for over 12,000 active borrowers, a 206% increase, and has increased its portfolio size to over $8,000,000 USD. AzerCredit increased its average loan size to over $646 USD and experienced a borrower repayment rate of nearly 100%. With such a strong client base the PAR decreased to only 0.01% at risk. This fantastic growth and excellent return from borrowers indicate a significant increase in the economic status of Azerbaijan's rural poor. The institution retains a significant portion of active clients, many of which have received over eight separate loans as their businesses have flourished.


After a car accident that caused her to lose both of her legs, Samadova Ulduz learned a carpet making technique that allowed her to make beautiful, traditional works of art. However, with the high expenses of her disability, she could not afford to start an art-making business on her own. With the help of AzerCredit, Samadova has become a well-known carpet maker in her region, winning awards and presenting her work at many exhibitions. Full Story

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