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Azerbaijan Mortgage and Credit Guarantee Fund issues record amount of loans in 10M2021

Economy Materials 4 December 2021 11:16 (UTC +04:00)
Azerbaijan Mortgage and Credit Guarantee Fund issues record amount of loans in 10M2021

BAKU, Azerbaijan, December 4

By Sadraddin Aghjayev – Trend:

Azerbaijan Mortgage and Credit Guarantee Fund (MCGF) has issued the record amount of loans in annual terms - 4,538 loans for 300 million manat ($176.4 million) over 10 months of 2021, MCGF told Trend.

As of December 2, 2021 the Fund has given guarantees on business credits in the amount of 235.2 million manats ($138.3 million).

MCGF of Azerbaijan has leased 1,190 apartments with the right of subsequent purchase during

In general, the loans given by the MCGF amount to 1.9 billion manat ($1.1 billion), and the number of families that have improved their living conditions due to these loans amounts to 36,369 people.

Mortgage and Credit Guarantee Fund has been established in accordance with the decree of the President of Azerbaijan in 2017 through the reorganization and merge of Azerbaijan Mortgage Fund OJSC and Azerbaijan Credit Guarantee Fund OJSC.

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