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Lending to supply of electricity, gas, steam, water surges in Azerbaijan

Finance Materials 9 June 2021 12:37 (UTC +04:00)

BAKU, Azerbaijan, June 9

By Zeyni Jafarov - Trend:

Lending to the supply of electricity, gas, steam and water in Azerbaijan amounted to 267.5 million manat ($157.3 million) in the first 4 months of 2021, soaring 11 times as compared to the same period of 2020, Trend reports citing the Central Bank of Azerbaijan (CBA).

“At the same time, long-term loans accounted for 256.3 million manat ($150.7 million), or 95.8 percent of the total lending to the sector. In the national currency, loans were issued for 1 million manat ($588,000), and in foreign currency - for 255.3 million manat ($150.1 million),” the CBA said.

“Short-term loans amounted to 11.1 million manat ($6.53 million), or 4.1 percent of the total lending to the sector. Of these, loans in national currency accounted for 800,000 manat, in foreign currency - 10.4 million manat ($6.11 million),” the bank said.

Loans were mainly allocated to state-owned enterprises and in foreign currency, and they accounted for 99.3 percent or 265.7 million manat ($156.2 million) of the total lending to the sector. The share of loans in the national currency made up 0.7 percent or 1.8 million manat ($1.05 million).

Lending to the real sector of the economy of Azerbaijan as of early May 2021 totaled over 14.9 billion manat ($8.76 billion), which is 159.3 million manat ($93.7 million) or 1.1 percent.

(1 USD = 1.7 AZN on June 9)

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