Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.

Status update — February 23, 2018
AzerCredit's final loans with Kiva have ended or been defaulted, and Kiva's partnership with this organization is now closed. For the last 3.5 years, Kiva has been collaborating with AzerCredit and a group of other funders to try to recover the remaining outstanding amount due to Kiva lenders. The organization faced serious difficulties following major currency devaluation and economic turmoil in Azerbaijan. As a result, AzerCredit has filed for bankruptcy and is unable to make any further payments, so Kiva has defaulted the remaining $57,579.52 in outstanding amounts. If Kiva is able to recover any additional funds from AzerCredit they will be applied to lenders' accounts on a pro-rata basis.

Status update — August 7, 2017
Kiva is continuing to work with a group of lenders to recover funds from AzerCredit, and last received a repayment in March 2017. AzerCredit is working closely with the group and provides regular status updates. Kiva expects AzerCredit to continue making sporadic repayments as funds become available.

Status update — April 20, 2016

Kiva received a repayment from AzerCredit in April 2016. We expect the organization to continue to repay sporadically as they receive repayments from borrowers, and we will settle those repayments out to lenders as they are received. Kiva staff remain in regular contact with AzerCredit and receive monthly status updates from the institution. In the wake of the 48% currency devaluation that occurred in Azerbaijan in December, many borrowers are having difficulties repaying their loans, so we expect future repayments to come in slowly.

Status update — January 25, 2016
Kiva is collaborating with a group of lenders to work toward recovering funds owed by AzerCredit. AzerCredit staff have been communicative and transparent throughout this lengthy process. Kiva staff met with AzerCredit staff in October 2015, and we expect to receive partial payment of funds due to Kiva lenders in early 2016. 

Status update — July 14, 2015
You may have noticed that AzerCredit's delinquency rate is higher than usual. AzerCredit is unable to send payment outside the country at this time. AzerCredit and World Vision are working with the authorities to resolve the situation. AzerCredit is sending regular updates to Kiva, and we will keep all lenders posted as we learn more. As soon as funds are received, they will be applied to the corresponding loans.

Partner Description:
Vision Fund AzerCredit was established in 1996 to provide credit to ensure people can take control over their own lives and livelihoods.

While VF AzerCredit works both in the urban and rural areas of Azerbaijan, the emphasis is placed on providing loans to micro and small rural entrepreneurs and self-employed poor, covering remote areas which are often considered not bankable. 
 
VF AzerCredit currently serves more than 80,000 active clients, including IDPs (Internally Displaced Persons), through its 47 branches mostly operating in rural areas. 
 
VF AzerCredit recently started active development of a reliable feedback system of customer grievance and suggestions. Client relationship management will be one of the core directions of VF AzerCredit in coming years.
 
VF AzerCredit is a member of the following networks: VisionFund International (VFI), Azerbaijan Micro Finance Association (AMFA) and Micro Finance Center (MFC).
 
A unique lending approach:
AzerCredit provides group loans, agriculture loans and household and family loans for small and micro entrepreneurs.