The Azerbaijan Mortgage Fund (AMF) in January-August secured mortgage loans at the level of 73.2 million manat (minus 7.5% for September 1 last year).
According to the Central Bank, in August, the agent banks issued mortgage loans in the amount of 6.5 million manat (an average of 200 dwellings - Turan). Refinancing loans totaled 78.5 million manat.
For 8 months AMF bonds for 40 million manat were placed. During this same time, the Fund received AZN 20 million from the state budget to finance social mortgage. The peak volume of this kind of mortgage lending was in April - then the people needing homes received 14.6 million manat of mortgage.
AMF created in 2005 has been issuing mortgage loans on commercial terms since July 1, 2009 to citizens of the country through 28 authorized banks. Loans are granted for a period of 3 to 25 years and the maximum loan must not exceed 50 thousand manat at the rate of not more than 8% per annum.
Social mortgage is financed from the state budget. Its maximum size is also 50 000 manat, but at a maximum rate of 4% per annum.
The volume of mortgage lending at the expense of the Azerbaijan Mortgage Fund (AMF) in 2013 amounted to 112.9 million manat. Annually AZN 40 million is allocated for social mortgage from the state budget. --17D-
Economics
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The Green Climate Fund (GCF), an operating entity of the financial mechanism of the UN Framework Convention on Climate Change (UNFCCC) and the body responsible for implementing the Paris Agreement, has included Azerbaijan for the first time in its list of countries eligible for funding.
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The International Telecommunication Union (ITU), the Permanent Mission of the Republic of Azerbaijan to the UN Office in Geneva and the Ministry of Digital Development and Transport organized for the heads of about 30 diplomatic missions accredited in Geneva a special briefing on the initiative "Green Digital Action", which will be presented during COP29 in November in Baku, the Ministry of Digital Development and Transport of Azerbaijan reported.
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As a member of the International Renewable Energy Agency (IRENA) Council, Azerbaijan participated in the 28th meeting of this Council in Abu Dhabi (UAE).
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Azerbaijan’s imports of animal and vegetable fats and oils climbed 23.9% by weight and 16.2% by value from January to September 2024, official data revealed. Despite the uptick in volume, the import cost of these products saw a decrease compared to the same period last year, with the cost per ton of vegetable oil falling by 6.1% to $1,199.6 in 2024, down from $1,278.6 in 2023.
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