Government nortgage lending up by 38% in Azerbaijan

In 2021, 356.3 million manats of mortgage loans were issued through the Mortgage and Credit Guarantee Fund (MCGF), 38.4% higher than in 2020, Report informs, referring to the Central Bank of Azerbaijan.

During the reporting period, the amount of loans refinanced by the Fund increased 2.5 times to 409.9 million manats.

In addition, during the year, the funds raised by the MCGF by issuing bonds rose by 21.7% to 280 million manats, and the funds allocated to the Fund from the state budget decreased by 2.3 times to 71.1 million manats.