BAKU, Azerbaijan, May 18
By Zeyni Jafarov - Trend:
Loans in the amount of 769 million manat ($452.3 million) were issued for the energy, chemistry and natural resources sector in Azerbaijan as of late March 2021, Trend reports referring to the Central Bank of Azerbaijan (CBA).
According to the CBA, the given figure shows an increase of 22.6 percent over the year.
Some 10.3 million manat ($6.06 million), or 1.3 percent, fell on short-term loans. Of these, about 2.6 million manat ($1.5 million) were issued in national currency, and 7.7 million manat ($4.5 million) - in foreign currency, the bank said.
Long-term loans amounted to 479.3 million manat ($281.9 million), or 98.7 percent. Loans in the national currency were issued in the amount of 700,000 manat (nearly $411,760), and the share of foreign currency made up 478.6 million manat ($281.5 million).
The main share of all lending operations carried out in the energy, chemistry and natural resources sector fell on foreign currency, amounting to 486.3 million manat ($286 million) of the total lending to this sector, noted the CBA.
Meanwhile, the share of lending to this sector in lending to the real sector amounted to 5.2 percent, an annual increase of 1.2 percentage points.
Total lending to the real sector of the economy in Azerbaijan in the first quarter of 2021 surpassed 14.7 billion manat ($8.67 billion), which is 909.4 million manat ($534.9 million), or 5.8 percent less compared to the same period of last year.
(1 USD = 1.7 AZN on May 18)
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