BAKU, Azerbaijan, March 11
Trend:
The mortgage loans worth about two billion manat or $1.2 billion were issued through the Azerbaijan Mortgage and Credit Guarantee Fund as of 2021, which improved the living conditions of more than 36,700 families, Trend reports with reference to the Azerbaijani Cabinet of Ministers’ report on activity in 2021.
The banks authorized by the Fund issued 5,293 mortgage loans worth 356.1 million manat or $209.5 million in 2021 (of which 3,425 ordinary mortgage loans worth 253.8 million manat or $149.3 million and 1,868 preferential loans worth 102.3 million manat or $60.2 million), which is the biggest figure since the beginning of the activity of the Fund (2006).
This figure is by 39.92 percent more compared to 2020 (3,783 mortgage loans worth 275.5 million manat or $162.05 million were issued in 2020).
According to the report, the Fund carried out 4,873 initial refinancing operations worth 322.5 million manat or $189.7 million and 6,298 re-financing loans worth 409.4 million manat or $240.8 million in 2021, which is also a big figure compared to the previous periods.
The mortgage loan portfolio of the Fund amounted to 1.3 billion manat or $764 million as of 2021.