Azerbaijan Mortgage Fund (AMF) in January this year allocated 4.2 million manat (+800,000 or +23.5% from the previous year) to banks - agents under a special lending.
In addition, as stated in the report of the Central Bank (CBA), the AMF in January refinanced loans worth 5 million manat. In the same month, it placed bonds worth 3 million manat.
Mortgage Fund in March 2006 began to issue loans. Issuance of social mortgage in Azerbaijan began in 2007 and lasted for 6 months.
Mortgage loans on commercial terms are given in manat and only to Azerbaijani citizens. Loans are granted for a term of 3 to 25 years, the maximum loan must not exceed 50 thousand manat, and a loan is granted at a rate of no more than 8% per annum.
Funded from the state budget is only social mortgage. Its maximum size is 50 thousand manat at a rate not more than 4% per annum.
In 2014 banks - agents of AMF issued loans amounting to 97.1 million manat, which is 14% less than the record (110,700,000. Manat) index of 2013. --17D-
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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