OREANDA-NEWS. July 1, 2009. A month has passed from the day of resumption of mortgage lending by the Azerbaijan Mortgage Fund (AMF) under the Central Bank.

The AMF press service reports that for June the Fund’s authorized banks received 544 mortgage applications from the population and 44 applications of social mortgage loans (social mortgage lending was resumed on 16 June of the year).

“The amount of loans on these applications has reached AZN 26 million,” it was reported.

The AMF reports that disbursal of mortgage loans started on 11 June of the year.

For the passed month 20 citizens of Azerbaijan received mortgages. The amount of loans reaches AZN 1 million,” it was reported.

The Fund emphasizes that in March 2006 the country launched mortgage lending for the first time and disbursed only 4 mortgage loans for the first month. This year the process started more dynamically.

Azerbaijan State Budget 2009 envisages AZN 14 million for mortgage loan operations through the AMF agents. In addition, the AMF issued bonds for AZN 55 million and the bonds for AZN 15 million have been placed so far.