Over $12M in state mortgage loans issued in Azerbaijan in January

In January, Azerbaijan issued 21.2 million manats (nearly $12.5 million) in loans through the Mortgage and Credit Guarantee Fund (MCGF), 31.7% more than in the same period last year, Report informs, citing the Central Bank of Azerbaijan.

During this period, the amount of loans refinanced by the fund decreased by 12.9% to 18.2 million manats ($10.7 million).

In January, the amount of funds raised by the MCGF through bond issuance increased three times to 150 million manats ($88.2 million), and the amount of funds allocated to the fund from the state budget was 21.3 million manats ($12.5 million) (in the same period last year, the MCGF did not receive funds from the budget).