Project Name Microfinance Sector Development
Project Number 46536-001
Country Azerbaijan
Project Status Active
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 8621-AZE: Microfinance Sector Development
Technical Assistance Special Fund US$ 300,000.00
Financial Sector Development Partnership Fund US$ 300,000.00
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Regional integration
Drivers of Change Governance and capacity development
Knowledge solutions
Private sector development
Sector / Subsector

Finance - Finance sector development

Gender Equity and Mainstreaming No gender elements
Project Rationale and Linkage to Country/Regional Strategy

Project Outcome

Description of Outcome
Progress Toward Outcome Ongoing
Implementation Progress
Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)

1. Subsector diagnostics (credit and savings, microinsurance and payments) prepared and shared with CBA, industry and other relevant stakeholders.

2. Household survey implemented and draft report prepared

3. A Framework for Developing a National Financial Inclusion Strategy (2016 - 2020) has been developed but has not yet been discussed with CBA. The current challenging macroeconomic scenario is shifting government priorities.

4. Several workshops with CBA and industry representatives have been held in 2015.

5. Based on inputs from TA, NBCI and Credit Union reporting changed from quarterly to monthly basis

6. With support of the TA, a new circular on enhanced supervision of Credit Unions

7. Training needs assessment of CBA NBCI staff conducted and on-the-job training implemented.

Geographical Location Baku

Summary of Environmental and Social Aspects

Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design Results of consultations with relevant government institutions, banks, nonbank credit institutions, microfinance association and other development partners have been considered in project design. TA implementation is expected to support a strong partnership with the Azerbaijan Microfinance Association.
During Project Implementation

Stakeholders (industry representatives and regulators have been consulted and participated in workshops and seminars conducive to the development of a financial inclusion strategy.

Household survey implemented

Business Opportunities

Consulting Services The TA will require the services of three international consultants (for a total of 10.5 person-months) and two national consultants (for 11 person-months) to be recruited as individual consultants in accordance with ADB's Guidelines on the Use of Consultants (2013, as amended from time to time).
Procurement There are no procurement of goods under the TA.

Responsible Staff

Responsible ADB Officer Inmaculada Martinez Martin
Responsible ADB Department Central and West Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, CWRD
Executing Agencies
Central Bank of Azerbaijan
32 R Behbutov Street
Baku 370014, Azerbaijan


Concept Clearance 04 Jul 2013
Fact Finding 23 Jul 2013 to 31 Jul 2013
Approval -
Last Review Mission -
Last PDS Update 30 Mar 2016

TA 8621-AZE

Approval Signing Date Effectivity Date Closing
Original Revised Actual
21 Feb 2014 24 Mar 2014 24 Mar 2014 31 Oct 2016 - -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
300,000.00 300,000.00 150,000.00 0.00 0.00 0.00 750,000.00 21 Feb 2014 356,228.92

This page was generated from on 26 July 2016