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Azerbaijan’s 10M2021 volume of loans issued to energy, chemistry and natural resources decreases

Finance Materials 28 November 2021 09:17 (UTC +04:00)

BAKU, Azerbaijan, Nov. 27

By Nazrin Israfilova – Trend:

The volume of loans issued to the energy, chemistry and natural resources sector of Azerbaijan in 10M2021 reached 465.2 million manats ($273.7 million), decreasing by seven percent compared to the same period last year, Trend reports citing the Central Bank of Azerbaijan (CBA).

According to the CBA, in the reporting period last year, loans to this sector amounted to 499.9 million manats ($294.1 million).

It is reported that short-term loans to this sector, excluding the amount issued by non-bank credit organizations and excluding problem loans, reached 19.3 million manats ($11.3 million), of which nine million manats ($5.3 million) were issued in manat, and 10.3 million manats ($6 million) - in foreign currency.

Also, long-term loans amounted to 445.9 million manats ($262.4 million). Of these, loans were issued in manat in the amount of one million manat ($588.408), and in foreign currency - 444.8 million in manats ($261.7 million) equivalent.

The CBA noted that the share of lending to this sector in lending to the real sector amounted to 2.8 percent, which is 0.6 percent more compared to the same period in 2020.

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