Amount of government mortgage lending nears $100M

In January-April 2023, the Mortgage and Credit Guarantee Fund (MCGF) of Azerbaijan allocated 164.9 million manats (over $97 billion) in loans, 5% more than in 2022.

During the reporting period, the amount of loans refinanced by the Fund increased by 8% and amounted to 108.3 million manats ($63.7 million).

So far in 2023, the amount of funds raised by MCGF by issuing bonds has increased by 11.1% and reached 100 million manats ($58.8 million), while the amount of funds allocated to the Fund from the state budget has decreased by 8% to 43.8 million manats ($25.76 million).