Azerbaijan Announces MCGF Funds To Country's Capital Markets
Date
12/25/2024 2:09:21 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, December 25. Since its
inception, about 3 billion manat ($1.7 billion) have been allocated
to the Azerbaijani capital markets from the Mortgage and Credit
Guarantee Fund (MCGF), Advisor to the Chairperson of the Board of
the Mortgage and Credit Guarantee Fund (MCGF) Ilham Kalashov told
Trend.
“MCGF's contribution to the development of capital markets in
Azerbaijan is inestimable.
The volume of the Fund's bonds for the current period is more
than 2 billion manat ($1.1 billion).
The main authorized capital of the Fund is formed from the state
budget. Our authorized capital is about 1.7 billion manat ($999
million). The fund has a high level of capitalization. The ratio of
capital to assets is 33.4 percent,” he added.
The Mortgage and Credit Guarantee Fund of Azerbaijan (MCGF) is a
public fund established in 2017 by the amalgamation of the
Azerbaijan Mortgage Fund and the Credit Guarantee Fund of the
Republic of Azerbaijan. The objective is to enhance living
circumstances, establish an effective financing system for house
construction, attract both domestic and international investors to
mortgage lending, and facilitate access to funding for SMEs. MCGF
provides financial instruments including credit guarantees and
mortgage loans for this purpose.
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