Azerbaijan Mortgage Fund provides loans worth 4mln manat

Business Materials 2 March 2010 10:29 (UTC +04:00)

Azerbaijan, Baku, March 2 / Trend N.Ismayilova /  

In January, the Azerbaijan Mortgage Fund (AMF), acting under the Central Bank issued mortgage loans worth 4.2 million manat, AMF said.

The total volume of refinancing of loans that the banks issued previously amounted to 5.3 million manat. The 2010 state budget will provide 14 million manat for issuance of mortgage lending.

Based on AMF's data, 17.4 manat mortgage loans fells per capita in Azerbaijan compared tom 17.05 manat in 2009, 7.34 manat - in 2008, 5.28 manat - in 2007 and 0.2 manat- in 2006.

It is planned to keep the current dynamics of the population's demand in mortgage lending in 2010.

The total volume of mortgage lending on AMF standards (since March 2006) reached 162 million manat. The fund issued mortgages worth 152 million manat allowing to fund 3,800 mortgages from 2006 to December 2009.

March 2, the official exchange rate is 0.8034 manat to $2.

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