BAKU, Azerbaijan, June 1. Azerbaijan's Mortgage and Credit Guarantee Fund (MCGF) has issued loans totaling 3.52 billion manat ($2.08 billion) to 54,523 borrowers so far, Trend reports via the MCGF.
Moreover, the aggregate value of assurances and fiscal
incentives disbursed amounted to 549.4 million manat ($324.17
million).
A cumulative total of 7,159 residential units have been facilitated
via leasing agreements.
The MCGF was instantiated at the culmination of 2017 following the
amalgamation of the Azerbaijan Mortgage Fund OJSC and the Credit
Guarantee Fund OJSC, thereby serving as their juridical
successor.
The Mortgage and Credit Guarantee Fund of Azerbaijan (MCGF) is a public fund established in 2017 by the amalgamation of the Azerbaijan Mortgage Fund and the Credit Guarantee Fund of the Republic of Azerbaijan. The objective is to enhance living circumstances, establish an effective financing system for house construction, attract both domestic and international investors to mortgage lending, and facilitate access to funding for SMEs. MCGF provides financial instruments, including credit guarantees and mortgage loans for this purpose.
