International Eurasia Press Fund

Eurasia-Credit non-bank organization with Limited Liabilities. Report. 2009

As a non-bank organization “EURASIA CREDIT” Non-Bank Organization with Limited Liabilities was constituted by the Board of International Eurasia Press Fund (IEPF) in accordance with the Decision dated September 05, 2007 and registered in September 13th, 2007 at the Baku Regional Department on Government Registration of Juridical Persons under the Ministry of Justice of the Republic of Azerbaijan and started its activity within the Legislation of the Republic of Azerbaijan at the early 2008.

The constitutor of “EURASIA CREDIT” Non-Bank Organization with Limited Liabilities- IEPF implemented very many huge projects in the war torn and liberated territories of Azerbaijan and as the result of its activities there was established a very rich database on people’s life circumstances and problems of the regions. Basing on all these above mentioned IEPF constituted “EURASIA CREDIT” Non-Bank Organization with Limited Liabilities to support the implementation of the projects “Establishing of the Aghstafa Regional Branch of the Azerbaijan Mine Victims Association (AMVA) and Directing Its Activity” and “Establishing of the Fizuly Regional Branch of the Azerbaijan Mine Victims Association And Directing Activity of Terter Regional Branch of AMVA” with the financial support of the U.S. Department of State, Bureau of Political-Military Affairs, Office of Weapons Removal and Abatement (PMWRA). Main purposes of the Project were to establish the Aghstafa and Fizuly Regional Branches (RB) of AMVA and improve the activity of Terter RB. Besides, it aimed to conduct trainings to the members of the Initiative Group selected out of mine victims settled in Aghstafa, Tovuz, Kazakh, Gedebey, Shamkir, Dashkesan, Fizuly and Beylegan on business, law and medicine, at the same time, allocating micro-credits to mine victims and the people suffered from mine/UXO to improve their farmer unities and meet their needs in consumer goods.

Presently, main creditors of “EURASIA CREDIT” LTD consist of mine victims, families with poor provision, disabled, refugees and internally displaced persons. As a initially “EURASIA CREDIT” allocated $45 000 US among the targeted group of people in Terter, Fizuly and Aghstafa regions as a micro credit and rendered consultations free of charge on how successfully establish their activity. Micro credits had designation of establishing and improving farmer unities of families of poor provision (cattle-breeding, sheep-breeding, seeding, commerce, dairy farm, advertisement and design, weaving, etc.) and served to improve their life circumstances. Micro-credit was allocated to 84 internally displaced persons, 14 mine victims or their family members, people suffered from the impact of mine and UXO and other people with poor provision in Terter, Fizuly, Aghstafa, Goranboy, Khocaly, Kelbecer, Aghdere, Shusha regions.

Micro-credits were allocated to 43 persons individually, 144 persons in group. The amount allocated for regions is as followings for to day: Fizuly region – 13 195 AZN; Aghstafa region – 22 000AZN; Terter and surrounded regions- 26 450AZN.

According to contracts beetwen “Caucas Credit” on 05/05/2009 the amount 15.000 AZN were allocated to IDPs live in Tartar district to develop their family income.

According to contract signed on 14.09.2009 between “Cred Agro” non bank credit organization the amount of 65.000 AZN were allocated to local population, İDPs, mine victims and people living under low income, to increase family business in Tartar district.

Currently “EURASIA CREDIT” has 161.990 amount credit portfolio and 657 creditors in Baku, Tartar, Aghstafa and Fizuli regions of Azerbaijan. 55% of creditors are women.

In nearest future “EURASIA KREDIT” is going to create collaboration links with financial bodies to get new credit resources and allocate them among mine victims, their family members, families with poor provision, refugees and IDPs settled in other regions of Azerbaijan. It will be real steps in reducing the poverty among the population with poor provision.