BAKU, Azerbaijan, March 19. The volume of loans in Azerbaijan issued by banks to the industry and production sector increased by 298.1 million manat ($175.3 million) in February 2022, or 43.3 percent compared to the same period last year - up to 986.1 million manat ($580 million), Trend reports citing the Central Bank of Azerbaijan Republic (CBAR).
Lending to the real sector of the Azerbaijani economy increased by 20.2 percent or 2.88 billion manat ($1.6 billion) in February 2022, compared to the same period last year - from 14.2 billion ($8.3 billion) to 17.1 billion manat ($10 billion).
Short-term loans issued to legal entities in this sector amounted to 219.1 million manat ($128.8 million), of which 167.4 million fell on loans in national currency (Azerbaijani manat) and 51.7 million in foreign currency in Azerbaijani manat equivalent.
Long-term loans issued to legal entities amounted to 765.9 million manat, of which 557.9 million were loans in the national currency and 208 million in manat equivalent in foreign currency in February 2022.