Azerbaijan Mortgage and Credit Guarantee Fund to increase equity by AZN 100M this year

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# 14:35
28 February 2018

The Azerbaijan Mortgage and Credit Guarantee Fund (MCGF) receives steady contributions from the government since its establishment and is supported by the central bank's buy-back guarantee on its bonds, Fitch Ratings reported.  

 

‘For 2018, the government has approved an AZN100 million equity injection and the central bank's buy-back guarantee over a new AZN200 million bond issue. Due to a new mandate, MCGF will receive an additional AZN40 million transfer from the state to finance interest subsidy on SMEs' loans in 2018’, the agency said.

 

Fitch assumes the fund will continue to benefit from ongoing state support over the medium term.

 

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THE OPERATION IS BEING PERFORMED