BAKU, Azerbaijan, April 5. The volume of loan allocations in Azerbaijan's Eastern Zangezur economic region grew by 169,000 manat ($99,410), or 1.7 percent, as of March 1 of this year compared to the previous month, reaching 10 million manat ($5.9 million).
Data obtained by Trend from the Central Bank of Azerbaijan shows that the average interest rate for this indicator made up 16.17 percent.
During this period, 9.3 million manat ($5.46 million) of the loan allocations in the region was provided in national currency, and 698,000 manat ($409,000) was provided in freely convertible currency (FCC).
Meanwhile, as of March 1 of this year, the volume of loan allocations in the Karabakh economic region amounted to 477.1 million manat ($280.59 million), marking an increase of 2.5 million manat ($1.47 million) or 0.5 percent in monthly terms and a growth of 67.5 million manat ($39.66 million) or 16.5 percent compared to the same period last year, and the average interest rate for this indicator was 19.24 percent.
Throughout the specified timeframe, a total of 475.7 million manat (equivalent to $279.99 million) in loan disbursements within the region was executed in the domestic currency, whereas an additional 1.5 million manat (approximately $882,000) was allocated in FCC.
To note, as of March 1, 2025, the total volume of loans in all regions of Azerbaijan amounted to 27.6 billion manat ($16.23 billion), representing an increase of 77.7 million manat ($45.68 million) or 0.3 percent compared to the previous month and an increase of 3.8 billion manat ($2.23 billion) or 15.8 percent compared to the same period in 2024.