Jan 3, 2007
By cory lee
Kiva.org announces second partnership in Azerbaijan, Normicro
Kiva.org is proud to announce partnership with Normicro, in Azerbaijan.


Normicro's mission is to offer sustainable, demand-driven lending services aimed at enhancing the quality of life of internally displaced peoples (IDPs) and low-income people through promoting viable enterprises.

Normicro was established in 1998 in Baku city, the capital of Azerbaijan. Originally, Normicro was the Income Generating Project of the Norwegian Refugee Council (through the Norwegian Refugee Council IDP Revolving Fund). The main purpose of the project was to support IDPs from Nagorno-Karabakh in establishing/expanding their private businesses in order to help them improve their living conditions, create/sustain jobs for them and family members, and eliminate dependence on humanitarian aid.

In 2002, this fund was formally registered and licensed in Azerbaijan as a non-banking financial institution named Norwegian Microcredit LLC (Normicro). Historically, Normicro conducted its initial activities in Baku in 1998 and expanded into Beylagan in 2000 in order to extend its microfance activities to IDPs and vulnerable locals located in that district. Currently, Normicro has offices in Baku, Beylagan, Khachmaz, Agsu and Sumgayit cities and covers 12 districts of Azerbaijan with competitive microfinance services.

Normicro has established relationships with the World Bank and numerous creditors while borrowing funds to serve thousands of microentrepreneurs throughout Azerbaijan. Today, the number of Normicro clients reachs 4,300 of which 46% are female and 44% are IDPs. Normicro estimates that around 10,000 jobs have been created or sustained from the businesses its has funded since 1998.

Normicro recently received a Microfinanza rating and is planning to grow its portfolio to be able to strengthen the depth of its social impact.


Thanks to all Kiva Lenders whose support has allowed us to grow so quickly!

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