BAKU, Azerbaijan, Nov. 26
By Zeyni Jafarov – Trend:
Mortgage loans worth 207.6 million manat ($122.1 million) were issued through the Mortgage and Credit Guarantee Fund of Azerbaijan from January through October 2020, which is 62.4 percent or 79.8 million manat ($46.9 million) more compared to the same period of 2019, Trend reports citing the statistical report of the Central Bank of Azerbaijan (CBA).
During the reporting period, the number of loans refinanced by the fund decreased compared to last year by almost 47.3 percent and amounted to 109.4 million manat ($64.3 million), and during the reporting period, funds allocated from the state budget of the ICGF doubled and amounted to 161.2 million manat ($94.8 million).
In October 2020 alone, Azerbaijani banks issued mortgage loans in the amount of 27.1 million manat ($15.9 million), which is almost 3 times more compared to the same month of 2019.
(1 USD = 1.7 manat on Nov. 26)
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