BAKU, Azerbaijan, Mar.16
By Zeyni Jafarov - Trend:
Azerbaijan’s Mortgage and Credit Guarantee Fund has placed bonds in the amount of 1.31 billion manat ($770 million) to date, and obligations on repaid bonds worth 345.7 million manat ($203.3 million) have been completely fulfilled, Yegana Ramazanova, spokesperson for the fund, told Trend on Mar.16.
According to Ramazanova, the nominal amount of the fund's bonds in circulation is 964.3 million manat ($567.2 million).
She said that due to money received from the issue of bonds, over 21,000 families improved their living conditions through the mechanisms provided by the fund.
The spokesperson noted that since the beginning of this year, bonds have been placed for a total of 55 million manat ($32.3 million) and by the end of the year the fund, if necessary, will raise additional funds from financial markets in the areas of activity.
The average interest rate on the Mortgage Fund’s bonds in circulation is three percent, added Ramazanova.
Long-term bonds are issued by the fund to ensure financing of mortgage loans.
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