BAKU, Azerbaijan, August 27. Azerbaijan has provided more than 3.61 billion manat ($2.12 billion) in mortgage loans through the state-run Mortgage and Credit Guarantee Fund (MCGF).
Data obtained by Trend from the MCGF shows that 55,375 borrowers have benefited from these loans, highlighting the government’s ongoing efforts to support housing access. In addition, loans backed by guarantees and subsidies totaled 581 million manat ($341.5), while 7,793 apartments were made available for rent under the program.
Established at the end of 2017 through the merger of the Azerbaijan Mortgage Fund and the Credit Guarantee Fund, the MCGF serves as the legal successor of both institutions.
