Government mortgage lending up 17% in Azerbaijan

Mortgage lending through the Mortgage and Credit Guarantee Fund (MCGF) amounted to 354.9 million manats ($208.76 million) in January-October 2022, 16.7% 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 1% decrease and settled at 320.3 million manats ($188.41 million).

The funds attracted through the issue of securities stood at 275 million manats ($161.76 million), up 37.5% from the previous year.

The funds allocated from the state budget to the MCGF went up 33.9% to 95.2 million manats ($56 million).