Government mortgage lending in 2023 reaches $271M

In 2023, the Mortgage and Credit Guarantee Fund (MCGF) of Azerbaijan allocated 461.7 million manats ($271.59 million) in loans, 9.2% 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 20.9% to 492 million manats ($289.41 million).

The amount of funds raised by MCGF in 2023 by issuing bonds amounted to 450 million manats ($264.71 million), while the amount of funds allocated to the Fund from the state budget has dropped by 8% to 87.6 million manats ($51.5 million).