Government mortgage lending in first half amounts to over $143M

In January-June 2023, the Mortgage and Credit Guarantee Fund (MCGF) of Azerbaijan allocated 243.6 million manats ($143.29 million) in loans, 12.3% 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 12.5% to 211.8 million manats ($124.6 million).

The amount of funds raised by MCGF in 2023 by issuing bonds has increased by 7.7% to 140 million manats ($82.35 million), while the amount of funds allocated to the Fund from the state budget has decreased by 8% to 43.8 million manats ($25.76 million).