BAKU, Azerbaijan, December 8. A total of 40,484 borrowers have been issued mortgage loans in the amount of 2.285 billion manat ($1.34 billion) through the Azerbaijan Mortgage and Credit Guarantee Fund (MCGF) as of September 30, 2022, the fund told Trend.
According to the fund, mortgage loans were issued to 31,618 borrowers in Baku, 3,253 - in Sumgait, 3,080 - in Absheron, 1,262 - in Ganja, 437 - in Nakhchivan Autonomous Republic, 171 - in Mingachevir, 95 - in Shirvan, and 80- in Lankaran.
A total of 41,974 borrowers were issued mortgage loans in the amount of 2.3 billion manat ($1.3 billion) as of December 8 in Azerbaijan.
A total of 2,930 citizens improved their living conditions as part of the mechanism for renting apartments with the right to purchase.
The amount of guarantees and subsidies provided by the fund for business projects is 331.176 manat ($194.81).
The 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.