Azerbaijan shares latest data on issued state mortgage loans

By Trend

A total of 39,197 borrowers have been issued mortgage loans in the amount of over 2.18 billion manat ($1.28 billion) through Azerbaijan Mortgage and Credit Guarantee Fund (MCGF) as of May 31, the fund told Trend.

According to the MCGF, 1,600 apartments were sold by renting them out as of the above date.

Meanwhile, the amount of guarantees and subsidies provided by the fund for business projects exceeded 302.3 million manat ($177.8 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.