Mortgage lending through state increases by 56% in Azerbaijan

In January-September this year, AZN282,400,000 in mortgage loans was issued through the Mortgage and Credit Guarantee Fund (MGIF), Report informs.

According to Azerbaijan’s Central Bank, this is 56.45% more than in the same period last year.

Over the reporting period, the number of loans refinanced by the Fund increased by about 3.8 times compared to the previous year and amounted to AZN281,500,000, while the volume of funds through the issuance of bonds in the securities market increased by 3.2% to AZN160,000,000.

During the reporting period, the funds allocated to the ICF from the state budget decreased fourfold to AZN35,600,000.