Government mortgage lending up 20% in Azerbaijan

Mortgage lending through the Mortgage and Credit Guarantee Fund (MCGF) amounted to 390.7 million manats (roughly $230 million) in January-November 2022, 20% 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 7.5% decrease and settled at 350.4 million manats ($206.12 million).

The funds attracted through the issue of securities stood at 375 million manats ($220.59 million), up 87.5% 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).