OREANDA-NEWS. January 05, 2010. The Azerbaijani Mortgage Fund (AMF) under the Central Bank of Azerbaijan (CBA) has summed up results of its activity in 2009.

The AMF informs that 1,800 families purchased apartments, bought by means of mortgage, from the date of renewal of mortgage lending in the country on 1 June 2009.

“From 1st June to 1st January 2009, mortgages for AZN 76 million were given through the AMF agents. Simultaneously the volume of mortgages extended in the second half of 2009 exceeded the volume of mortgage loans (AZN 75.8 million) disbursed in 2006-7. In December 2009 alone it was given mortgages for AZN 9 million,” the AMF reported.

So, from the very beginning of the mortgage lending process in accord with the AMF standards (in March 2006) 3,800 families were able to improve their housing conditions due to mortgage loans in Azerbaijan and overall cost of such loans reached AZN 152 million.

“In 2010 it is expected to keep the current dynamics on meeting of population’s demand in mortgage loans,” the AMF reports.