BAKU, Azerbaijan, August 19. Azerbaijan’s Mortgage and Credit Guarantee Fund leased 388 apartments with the right of subsequent redemption in the first half of 2022, Trend reports via the fund's press service.
According to the press service said, the fund provided guarantees for business loans worth 34,264 manat ($20,160) in the reporting period.
A total of 39,939 borrowers have been issued mortgage loans in the amount of 2.42 billion manat ($1.42 billion) through the Mortgage and Credit Guarantee Fund, the press service said.
As part of the mechanism for renting apartments with the right to buy out, 1,847 citizens have improved their living conditions, while the total amount of guarantees and subsidies provided by the fund for business projects made up 312.4 million manat ($183.7 million), added the press service.
The Mortgage and Credit Guarantee Fund was established following the Presidential Decree in 2017 through the reorganization and merger of Azerbaijan Mortgage Fund and Azerbaijan Credit Guarantee Fund OJSCs.