Dec – 21, 2023 – The Azerbaijan Micro-Finance Association (AMFA) has joined the Sustainable Banking and Finance Association (SBFN), solidifying AMFA’s commitment to advancing sustainable and equitable economic growth in Azerbaijan. Established in 2001, AMFA has grown to become a prominent professional association representing 27 members, consisting of 22 non-bank credit organizations, three banks, a credit union and a leasing company.
AMFA has been at the forefront of promoting financial inclusion, recognizing its pivotal role in fostering the well-being of individuals and driving the success of entrepreneurs. With a rich tradition of engaging in lateral learning, AMFA members have actively contributed to advancing the practice of micro and small enterprise development on a national scale.
The Association has garnered recognition for its outstanding achievements, receiving awards from USAID-Iraq, EBRD Azerbaijan, and IFC-Azerbaijan. Additionally, AMFA has received awards from global and regional networks for its commitment to promoting best practices in financial transparency, financial literacy, customer protection, social performance management, women empowerment, gender equality, and financial inclusion.
Looking ahead, AMFA is poised to contribute to the implementation of the Sustainable Finance Roadmap 2023-2026 adopted by the Central Bank of the Azerbaijan Republic. The Association is also gearing up to build in-house expertise to support member organizations in effectively managing environmental, social, and governance (ESG) risks, including climate risks. Furthermore, AMFA aims to attract new investors to Azerbaijan, committed to positive environmental and social impacts, including climate change mitigation and adaptation.
“Joining SBFN underscores AMFA’s leadership in driving inclusive sustainable finance and aligns with global efforts to create a financial system that comprehensively contributes to positive social and environmental impacts,” said Jhale Hajiyeva, AMFA Executive Director. “We believe that becoming part of SBFN can help advance our sustainable finance journey by learning from other countries, aligning with international good practices, and advancing shared sustainability goals collectively.”
“We warmly welcome the Azerbaijan Micro-Finance Association to the SBFN global community,” said Rong Zhang, SBFN Global Coordinator. “Together, we look forward to supporting AMFA on their plans, including implementation of the Sustainable Finance Roadmap and building internal capacity. AMFA’s wealth of experience and commitment to best practices in inclusive sustainable finance will undoubtedly enrich our global network.”
Related