TODAY.AZ / Business

Azeri leasing companies' net investment reaches AZN 62mln

17 February 2007 [07:40] - TODAY.AZ
As of January 1, 2007, total net investment of Azerbaijan leasing companies amounted to AZN 61.9mln and leasing operations reached AZN 90mln, an IFC annual report said.

IFC Office in Baku told APA that potential projects of leasing companies beat AZN 11mln and the financed projects created 383 jobs during 2006.

Leasing companies held interest rates at 16%-24% annually and leasing period ranged 1 year to 5 years during this period. Leasing operation went 90% to Absheron Economic Zone.

The reports says the investment were made 6% in trade, 1% in agriculture, 18% in production sector, 21% in construction, 20% in transportation, 6% in finance and insurance, 2% in foodstuff industry, 5% in tourism and services, 6$ in sewing industry, 9% in consumer leasing, 2% in medical, 1% in telecommunications and 2% in other sectors.

The Azerbaijan Leasing Development Project (ALDP) was officially launched in 2003.

The project is aimed at development of the leasing sector, the investment environment and the promotion of foreign and domestic investment influx to the leasing sector in the country.


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