BAKU, Azerbaijan, October 3. Under the State line of the Mortgage and Credit Guarantee Fund of Azerbaijan (MCGF), a total of 55,932 borrowers have received 3.67 billion manat ($2.15 billion) in loans to date, Trend reports via the Fund.
Additionally, guaranteed and subsidized loans amounted to 581 million manat ($341.7 million), and 8,248 apartments have been allocated for rental purposes.
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.
