Millions of manats attracted from stock market to finance mortgages in Azerbaijan

By Trend:

CJSC Azerbaijan Mortgage and Credit Guarantee Fund attracted 265 million manats thanks to issuance of bonds in 2017, the Fund said in a message Dec. 27.

The message says that since the beginning of the year, the Fund has paid 65 million manats on its principal debt.

In total, the Fund has carried out 13 bond issuances and raised 655 million manats since May 2009.

These funds are intended to finance regular mortgage.

Currently, the Fund’s bonds worth 534.6 million manats are in circulation.

Moreover, 366 million manats were allocated from the state budget for the Fund in 2005-2017.

CJSC Azerbaijan Mortgage and Credit Guarantee Fund was established on December 25, 2017 by merger of the Azerbaijan Mortgage Fund and the Credit Guarantee Fund.