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VF AzerCredit Received a Platinum Award for Reporting Social Performance

VF AzerCredit Received a Platinum Award for Reporting Social Performance

Over the past several years it has become important to not only look at the growth or financial sustainability of MFIs, but their commitment to transparency in their efforts to achieve their social goals as well.

To recognize those MFIs committed to transparent social performance monitoring and management, MIX (Microfinance Information eXchange), along with the Michael & Susan Dell Foundation, the Ford Foundation and CGAP, initiated an award program in 2009 aimed at promoting transparent social performance reporting and recognizing good practices in social performance management.

With internationally recognized social performance achievements, VisionFund AzerCredit received from MIX a Silver Award in 2009, a Gold Award in 2010 and recently a Platinum Award for social performance reporting in 2011. The Platinum Award was introduced in 2011 as the highest level of the award from MIX.

VF AzerCredit is the only Azerbaijani organization to receive this award from MIX. That means VF AzerCredit is truly committed to strong social performance management and transparent reporting.

The balanced financial and social performance allowed VF AzerCredit, the second largest non-bank credit organization in Azerbaijan, to reach out 28% more clients in 2011 as compared to 2010 and increase loan portfolio by 52%. We currently serve more than 50,000 clients through 8 branches and 16 sub-branches in 19 regions, 14 of which are comparatively underserved rural areas. With the loans disbursed by VF AzerCredit 456 new jobs were created and 54,272 jobs were sustained in 2011. The number of children impacted was 30,731.

The key products offered to clients have so far been: 1) Micro and small business loans issued both to individuals and solidarity groups are intended to directly support clients` businesses; 2) Household loans finance the purchase of home appliances, furniture and the like; 3) Family loans provide low-income people with loans for educating their children, building a new house or repairing their old ones, receiving medical assistance, etc.

VF AzerCredit is continuously striving to diversify financial services provided to its clients so that more and more poor people could have access to financial resources to expand their business and experience positive changes in their livelihoods.

To view more information on Social Performance Reporting Awards, please visit

To get better understanding of SPM in VF AzerCredit, please see the Case Study on AzerCredit by Ewa Bankowska and Katherine E. Knotts, Microfinance Center, on the below link: Study on VF AzerCredit.pdf
March 2012

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