On July 27, in Azerbaijan National Bank (ANB), it was held the presentation of the regional report Analysis of primary market of mortgage housing credit in Azerbaijan within the program of International Finance Corporation Partnership in development of private sector, Trend reports.
According to the director-general of ANB Rufat Aslanli, the development of non-oil sector is the primary goal of the projects realized by Azerbaijani government. In connection with this, it is carried out the actual institutional development of banks, strengthening of their capitalization and the main aspect is the expansion of finance services.
The initial results show that the mortgage credit assists not only the development of market and economical potential, but also expands the access opportunities for social welfare of population.
According to him, the investigations of IFC were held on base of dada of 2005. But in 2006, there happened serious changes in this direction normative-legal base was formed and the mortgage credit started to be given at the expense of state finance.
The head of the technical assistance program of IFC in the sphere of housing financing in former socialist countries Elena Chlepikova noted that the investigations serve the beginning of dialogue. They covered Azerbaijan, Kazakhstan, Kyrgyzstan, Uzbekistan and Tajikistan.
The main tasks of the diagnostic investigations were to hold the analysis of the system of housing financing in the countries of Central Asia, reveal the problems and work our recommendations on formation of the system.
As a result of the investigations, IFC prepared a report on the current situation of the market of housing financing, review of initial statistics and information about the market and the plan of measures for the formation of the system.
Today, the state and private sector of the country were presented the initial report, then IFC is going to provide the common results of investigations over the region.