AMF allocates 31 million manat
Azerbaijan, Baku, May 12 / Trend N.Ismayilova /
The Azerbaijan Mortgage Fund (AMF) under the Central Bank of Azerbaijan has granted loans worth 31.2 million manat since the beginning of 2010, the AMF reported.
The total volume of refinancing of the loans issued previously by the banks amounted to 30.7 million manat. The 2010 state budget will provide 14 million manat for issuance of mortgage lending.
Based on AMF's data, 20.3 manat mortgage loans fells per capita in Azerbaijan in April compared to 19 manat in March, 17.05 manat - in 2009, 7.34 manat - in 2008, 5.28 manat - in 2007 and 0.2 manat- in 2006.
Of the total number of loans 72 percent fell to young people and young families.
It is planned to keep the current dynamics of the population's demand in mortgage lending in 2010.
The official exchange rate is 0.8036 manat to $1 May 12.
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