Amount of government mortgage lending exceeds $121M

In January-May 2023, the Mortgage and Credit Guarantee Fund (MCGF) of Azerbaijan allocated 205.8 million manats ($121.05 million) in loans, 8.3% 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 18.4% to 160.3 million manats ($94.3 million).

So far in 2023, the amount of funds raised by MCGF by issuing bonds has increased by 11.1% and reached 100 million manats ($58.8 million), while the amount of funds allocated to the Fund from the state budget has decreased by 8% to 43.8 million manats ($25.76 million).