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Government mortgage lending in Azerbaijan increases sharply

10 May 2013 14:00 (UTC +04:00)

Baku. Ali Ahmedov – APA-Economics. AZN 16.87 mln mortgage loans were given via Azerbaijan Mortgage Fund during April, 2013, up 2.2 times from a month earlier, 29.8% - from a year earlier. Consequently, mortgage loans reached AZN 50.06 mln, said the AMF.

AMF says the mortgage loans given during 4 months of 2013 made AZN 32.06 mln, up 39.4% by contrast to previous year.

Totally, the mortgage loans through AMF have reached AZN 467.56 mln since mortgage lending started in 2006. Consequently, as of May 1, 2013, per capita mortgage loan made AZN 48.2.

AMF has refinanced AZN 8.35 mln-mortgage loans. Consequently, AZN 20.4 mln-loans were refinanced during January-April, down 23.1% compared to a year ago. Consequently, AZN 363.77 mln or 77.8% of total mortgage loans were refinanced.

Besides, AMF did not issue bonds in April. Consequently, the bonds issued by Fund remained at AZN 11 mln.