Government mortgage lending in 11 months nears $257M

Kanan Sadigov
Author

In January–November 2023, the Mortgage and Credit Guarantee Fund (MCGF) of Azerbaijan allocated 436.7 million manats ($256.9 million) in loans, 11.8% more than in 2022, Report informs, citing the Central Bank of Azerbaijan.

During the reporting period, the amount of loans refinanced by the Fund increased by 29.2% to 452.6 million manats ($266.2 million).

The amount of funds raised by MCGF in 2023 by issuing bonds has decreased by 1.3% to 370 million manats ($217.6 million), while the amount of funds allocated to the Fund from the state budget has dropped by 8% to 87.6 million manats ($51.5 million).

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