Azerbaijan issues AZN 371 mln in state-backed mortgages in Jan–Oct

Azerbaijan issued AZN 371.3 million in state-backed mortgage loans in January–October, the central bank said, marking a 3.1% decline from the same period last year.

The volume of loans refinanced by the Mortgage and Credit Guarantee Fund fell 7.3% to AZN 351 million.

Funds raised by the Fund through bond issuance rose 22.2% to AZN 550 million, while allocations from the state budget decreased 2.7% to AZN 63.9 million.