Government mortgage lending declines 20% in Azerbaijan

Mortgage lending through Mortgage and Credit Guarantee Fund (MCGF) amounted to AZN 74.6 million in January-May 2020, which is 20.5% less than the same period of 2019, Report informs citing the Central Bank of Azerbaijan.

In the reporting period, the loans refinanced by the MCGF slid by 9.6-fold to AZN 12.6 million.

The amount of funds attracted through the issue of securities went by 87.5% to AZN 75 million.

The funds allocated from the state budget to the MCGF soared 89% to AZN 75.6 million.