Azerbaijan reveals volume of issued state mortgage loans

By Trend

A total of 39,001 borrowers have been issued mortgage loans in the amount of over 2.17 billion manat ($1.28 billion) through Azerbaijan Mortgage and Credit Guarantee Fund (MCGF), the fund told Trend.

According to the MCGF, during the specified period, 1,575 apartments were sold by renting them out.

The amount of guarantees and subsidies provided by the fund for business projects equaled 299.66 million manat ($176.27 million).

Mortgage and Credit Guarantee Fund was established in 2017 by the Decree of the Azerbaijani President through the reorganization and merger of the Azerbaijan Mortgage Fund OJSC and the Azerbaijan Credit Guarantee Fund OJSC.