Government mortgage lending up 1% in Azerbaijan

Mortgage lending through the Mortgage and Credit Guarantee Fund (MCGF) amounted to 259.4 million manats ($152.6 million) in January-August 2022, 1.2% higher than the same period in 2021, Report informs, citing the Central Bank of Azerbaijan.

In the reporting period, the loans refinanced by the MCGF showed a 6.5% decrease and settled at 221.1 million manats ($130 million).

The funds attracted through the issue of securities stood at 155 million manats ($91.2 million), down 3.1% from the previous year.

The funds allocated from the state budget to the MCGF doubled to 71.4 million manats ($42 million).