Azerbaijan’s Mortgage, Credit Guarantee Fund granted almost 233M in loans in 11 months

In January-November 2024, the Mortgage and Credit Guarantee Fund (MCGF) of Azerbaijan provided 396.1 million manats (almost $233 million) in loans, 9.3% less year-on-year, Report informs, citing the Central Bank of Azerbaijan.

During the reporting period, the value of loans refinanced by the MCGF dropped by 7.4% to 418.9 million manats (over $246.4 million).

The amount of money raised by MCGF during the year by issuing bonds amounted to 500 million manats ($294.1 million), representing an increase of 35.1% year-on-year.

Meanwhile, 87.7 million manats ($51.588 million) were allocated to the fund from the state budget, a 0.1% increase.