BAKU, Azerbaijan, September 30. The peak of requests in connection with the loans restructuring fell during the period of the pandemic, Head of Credit Guarantee Department of Azerbaijan's Mortgage and Credit Guarantee Fund (ICGF) Elshan Karimov told Trend.
"During the pandemic, 15 borrowers applied to ICGF about loan restructuring. All of them were restructured. The balance for all these loans today is about 3.8 million manat ($2.2 million)," he said.
The Mortgage and Credit Guarantee Fund was established following the Presidential Decree in 2017 through the reorganization and merger of Azerbaijan Mortgage Fund OJSC and Azerbaijan Credit Guarantee Fund OJSC.