Bank Of Baku

Azerbaijan Mortgage Fund issues AZN 68 million within three years

Azerbaijan Mortgage Fund issues AZN 68 million within three years
# 27 November 2008 12:27 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. Since early this year Azerbaijan Mortgage Fund (AMF) has refinanced mortgage loans of AZN 16.6 million which were distributed by agent banks.
The AMF said AZN 67.3 million in total have been distributed by agent banks during 2005-2008.
Of this, AZN 63.3 million has been refinanced by AMF.
For this period, AZN 80 million was earmarked in the state budget for AMF and AZN 68 million of which have been transferred to AMF.
Interestingly, no mortgage loan was lent in 2005 while AZN 6 million was allocated for this.

(mln. manat)

Year

2005

2006

2007

2008

Cəmi

Earmarked in the state budget for mortgage loans

6

20

20

34

80

Delivered to AMF

6

20

20

22

68

Distributed by agent banks

-

6,3

61,6

-

67,9

Refinanced by AMF

-

1,6

45,1

16,6

63,3


AZN 22 million of the planned AZN 34 million for 2008 has been made available to AMF.
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