BAKU, Azerbaijan, September 8. A total of 30,872 borrowers have been issued mortgage loans through the Azerbaijan Mortgage and Credit Guarantee Fund (MCGF) as of June 30,2022, the press service of the fund told Trend.
According to the fund, the distribution of mortgage loans in Baku by administrative districts is as follows: Khatai district - 7,081, Yasamal district - 5,875, Binagadi district - 3,844, Surakhani district - 3,290, Nasimi district - 2,524, Nizami district - 2,464, Narimanov district – 2,176, Sabunchi district – 1,219, Sabail district – 1,080, Garadagh district – 725.
A total of 40,167 borrowers were issued mortgage loans in the amount of 2.26 billion manat ($1.3 billion) on September 7.
The number of 2,246 citizens improved their living conditions as part of the mechanism for renting apartments with the right to purchase, the MCGF said.
The amount of guarantees and subsidies provided by the fund for business projects is 319,671 manat ($118,041).
Mortgage and Credit Guarantee Fund was established in 2017 by the Decree of the Azerbaijani President through the reorganization and merger of the Azerbaijan Mortgage Fund OJSC and the Azerbaijan Credit Guarantee Fund OJSC.