Liquidated Azerbaijan Mortgage Fund sums up its activity


December 27, Fineko/abc.az. The Azerbaijan Mortgage Fund, transferred into the Mortgage & Credit Guarantee Fund in compliance with the presidential decree from 26 December, has given about 3,000 mortgage loans this year.

The Fund reports that the amount of the given loans amounted to AZN 194 million.

"Thus, living conditions of more than 21,000 families due to the given loans, and the amount of the given loans ahs been brought up to AZN 930 million,” the MCGF said.

Since May 2009 the Fund has carried out 13 issues of bonds and raised AZN 655 million, which were directed for financing mortgage loans (for 25 years at 8%). Currently, the volume Fund’s bonds in circulation of the Fund is AZN 534.6 million. State Budget 2017 allocated AZN 50 million to the MCGF and totally  AZN 366 million for 2005-2017.