A meeting of the project manager of the International Finance Corporation (IFC) on Central Asia and Azerbaijan Elena Klepikova with members of the Milli Mejlis permanent commission on social policy took place on 6 September at MM (the Parliament).
She reported that the corporation plans to implement a project on formation of the mortgage credit market in Central Asia and Azerbaijan. The basic goal of the meeting is the interest to the mortgage in Azerbaijan and the steps taken towards establishing the legislative base.
According to her, the mortgage market must be prepared in accordance with the market economy requirements, and must be workable and expedient.
The chairman of the commission Hadi Radjabli reported, the draft law вЂњOn mortgageвЂќ was adopted in Azerbaijan, but the law is of a framework character and we consider a number of laws should be passed, such as вЂњOn social mortgageвЂќ for the law to be workable.
В"President of Azerbaijan signed an edict вЂњOn youth policyвЂќ and the government plans to take a number of serious steps for providing the youth and low-income families with housing.
But we cannot take measures without familiarizing the international experience. Therefore we are to harmonize the legislative base in accordance with the experience of other countries and international institutionsвЂќ, Radjabli said.