BAKU, Azerbaijan, March 15. A total of 33,141 borrowers (78.4 percent of all mortgages) have been issued mortgage loans through the Azerbaijan Mortgage and Credit Guarantee Fund (MCGF) as of December 30, 2022, the fund told Trend.
According to the fund, a total of 42,273 mortgage loans were issued.
As of December 30, 2022, 3,302 mortgage loans were issued in Sumgayit city, 3,194 in Absheron region, 1,286 in Ganja, 481 in Nakhchivan, and the rest in other regions and cities of Azerbaijan.
In 2022, the fund's agent banks refinanced loans worth 2.25 billion manat ($1.3 billion). The total amount of issued mortgage loans equaled 2.4 billion manat ($1.4 billion), including concessional loans - 753 million manat or $442.9 (31.17 percent of total mortgage lending).
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.