BAKU, Azerbaijan, August 26. A total of 2,167 Azerbaijani citizens have improved their living conditions as part of the mechanism for renting apartments with the right to buy out, the press service of Azerbaijan’s Mortgage and Credit Guarantee Fund told Trend.
“The fund has provided guarantees and subsidies for business loans worth 319.6 million manat ($188 million) to date. A total of 40,037 borrowers have been issued mortgage loans in the amount of 2.24 billion manat ($1.32 billion) through the Mortgage and Credit Guarantee Fund as of August 26,” the press service said.
The fund leased 388 apartments with the right of subsequent redemption and provided guarantees for business loans worth 34,264 manat ($20,160) in the first half of 2022.
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.