Azerbaijan’s Q1 government mortgage lending exceeds $67M

In January-March, the Mortgage and Credit Guarantee Fund (MCGF) of Azerbaijan allocated 115 million manats ($67.65 million) in loans, 3.6% more than in January-March 2023, Report informs, citing the Central Bank of Azerbaijan.

During the reporting period, the amount of loans refinanced by the Fund decreased by 26.8% to 70.6 million manats ($41.53 million).

The amount of funds raised by MCGF in January-February (it did not attract funds in the same period of last year) by issuing bonds amounted to 140 million manats ($82.35 million), 21.9 million manats ($12.87 million) were allocated to the Fund from the state budget, as was the case 1 year ago.