Government mortgage lending up 19% in Azerbaijan

Mortgage lending through the Mortgage and Credit Guarantee Fund (MCGF) amounted to 422.7 million manats (roughly $248.65 million) in 2022, 18.6% higher than in 2021, Report informs, citing the Central Bank of Azerbaijan.

In the reporting period, the loans refinanced by the MCGF showed a 0.8% decrease and settled at 406.8 million manats ($239.29 million).

The funds attracted through the issue of securities stood at 450 million manats ($264.71 million), up 60.7% 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).