The government of Azerbaijan plans to increase the volumes of financing for development of the mortgage crediting project in 2006. 100 billion AZM are projected to allocate for these purposes the next year, the government told Trend. The amount of 30 billion AZM is planned to finance the mortgage in the current year.
With all these, the state plans to finance the targeted mortgage projects (young families and etc).
The Law “On mortgage” was adopted on 15 April 2005 at the spring session of the Parliament and entered into force on 9 June 2005.
For the moment the mechanisms of the mortgage papers registering and the issues of the developing of the program of the mortgage crediting are under coordination at the government.