Government mortgage lending in seven months amounts to over $164M

In January-July 2023, the Mortgage and Credit Guarantee Fund (MCGF) of Azerbaijan allocated 279.5 million manats ($164.41 million) in loans, 18.8% 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 36.7% to 264.7 million manats ($155.71 million).

The amount of funds raised by MCGF in 2023 by issuing bonds has increased by 30.8% to 170 million manats ($100 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).