Government mortgage lending in nine months amounts to over $230M

In January-September 2023, the Mortgage and Credit Guarantee Fund (MCGF) of Azerbaijan allocated 391.9 million manats ($230.53 million) in loans, 34.9% 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 24% to 353.6 million manats ($208 million).

The amount of funds raised by MCGF in 2023 by issuing bonds has increased by 31.7% to 270 million manats ($158.82 million), while the amount of funds allocated to the Fund from the state budget has decreased by 31% to 65.7 million manats ($38.65 million).