Government mortgage lending up 11% in Azerbaijan

Mortgage lending through the Mortgage and Credit Guarantee Fund (MCGF) amounted to 107.9 million manats in January-March 2022, 10.7% 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 27.3% increase and settled at 74.2 million manats.

The funds attracted through the issue of securities stood at 40 million manats, up 27.3% from the previous year.

The funds allocated from the state budget to the MCGF dropped by 33.5% to 23.8 million manats.