Government mortgage lending in eight months amounts to over $205M

In January-August 2023, the Mortgage and Credit Guarantee Fund (MCGF) of Azerbaijan allocated 349.6 million manats ($205.6 million) in loans, 34.8% 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 41.2% to 312.2 million manats ($183.6 million).

The amount of funds raised by MCGF in 2023 by issuing bonds has increased by 41.9% to 220 million manats ($129.4 million), while the amount of funds allocated to the Fund from the state budget has decreased by 8% to 65.7 million manats ($38.65 million).