BAKU, Azerbaijan, December 25. Since its inception, about 3 billion manat ($1.7 billion) have been allocated to the Azerbaijani capital markets from the Mortgage and Credit Guarantee Fund (MCGF), Advisor to the Chairperson of the Board of the Mortgage and Credit Guarantee Fund (MCGF) Ilham Kalashov told Trend.
“MCGF's contribution to the development of capital markets in Azerbaijan is inestimable.
The volume of the Fund's bonds for the current period is more than 2 billion manat ($1.1 billion).
The main authorized capital of the Fund is formed from the state budget. Our authorized capital is about 1.7 billion manat ($999 million). The fund has a high level of capitalization. The ratio of capital to assets is 33.4 percent,” he added.
The Mortgage and Credit Guarantee Fund of Azerbaijan (MCGF) is a public fund established in 2017 by the amalgamation of the Azerbaijan Mortgage Fund and the Credit Guarantee Fund of the Republic of Azerbaijan. The objective is to enhance living circumstances, establish an effective financing system for house construction, attract both domestic and international investors to mortgage lending, and facilitate access to funding for SMEs. MCGF provides financial instruments including credit guarantees and mortgage loans for this purpose.
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