Azerbaijan's Mortgage and Credit Guarantee Fund cuts lending by 13.7%

In Azerbaijan, the Mortgage and Credit Guarantee Fund (MCGF) issued 262.9 million manats in loans in January–August of this year, down 13.7% compared with the same period a year earlier.

According to the Central Bank of Azerbaijan, the volume of loans refinanced by the fund fell by 10.8% over the reporting period, to 255.1 million manats.

Over the year, the volume of funds raised by the MCGF through bond issuance declined by 25%, to 300 million manats. The volume of funds allocated to the fund from the state budget rose by 33.4%, to 63.9 million manats.