Azerbaijan, Baku, 21 May / Trend corr U. Ismayilova/ Azerbaijan Mortgage Fund (AMF) attached to the National Bank of Azerbaijan received the first public budget tranche totalling AZN 10mln.
"Some 90% of the allotted AZN 10mln has been spent for re-financing of previously allocated credits," AMF reported on 20 May.
On 20 September, 2007, AMF suspended re-financing of new mortgage credits due to lack of funds. Since the beginning of Fund's operation in March, 2006, 23 AMF authorized dealers allotted 1,800 credits totalling AZN 67.8mln.
It is yet unknown when remaining AZN 24mln envisaged in the Law on Public Budget of Azerbaijan for 2008 will be allocated.