Azerbaijan ups share of long-term loans for construction sector

Finance Materials 12 January 2021 15:36 (UTC +04:00)

BAKU, Azerbaijan, Jan.12

By Zeyni Jafarov – Trend:

The value of lending to the Azerbaijani construction sector as of early December 2020 made up 477.4 million manat ($280.8 million), Trend reports citing the data from the Central Bank of Azerbaijan (CBA).

According to the CBA, this figure is 10.8 million manat ($6.3 million) or 2.3 percent more compared to the early 2020.

Some 277.7 million manat ($163.3 million) or 58.2 percent accounted for the share of long-term loans in the Azerbaijani construction sector. This figure is by 28.1 million manat ($16.5 million) or 11.25 percent more, compared to early December 2019. The loans in the amount of 146.5 million manat ($86.18 million) were issued in national currency while $131.2 million manat ($77.18 million) in foreign currency.

Short-term loans in the Azerbaijani construction sector amounted to 103.7 million manat ($61 million) or 21.7 percent of the total amount of loans in this sector. Some 47 million manat ($27.6 million) of that amount were issued in national currency while $56.7 million ($33.3 million) in foreign currency.

The loans were mainly issued to the private institutions both in national currency, amounting to 40.5 percent (193.5 million manat that’s $113.8 million) of the total lending to the construction sector, and in foreign currency - $187.9 million manat or $110.5 million (39.3 percent).

The share of lending to the construction sector in lending to the real sector amounted to 3.3 percent, and this indicator decreased by 0.6 percentage points compared to the previous year.

In general, the volume of lending to the Azerbaijani real sector amounted to 14.68 billion manat ($8.6 million) as of December 1, 2020, showing annualized growth of 435.1 million manat ($255.9 million) or 2.9 percent.

(1 USD = 1.7 AZN on Jan.12)


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