BAKU, Azerbaijan, October 11. The Mortgage and Credit Guarantee Fund (MCGF) has provided mortgage loans totaling 3.67 billion manat ($2.15 billion) to 55,950 borrowers to date.
Data obtained by Trend from the fund indicates that loans backed by guarantees and subsidies amounted to 581 million manat ($341.7 million), while 8,253 apartments have been allocated through rental programs.
The MCGF was established at the end of 2017 as a result of the merger of the Azerbaijan Mortgage Fund and the Credit Guarantee Fund Joint-Stock Companies (JSCs), and it serves as the legal successor of both entities.
