BAKU, Azerbaijan, November 11. As many as 2,797 citizens improved their living conditions as part of the rent-to-own system, the Press Service of Mortgage and Credit Guarantee Fund of Azerbaijan told Trend.
"As of November 11, the Fund has offered business loan guarantees and subsidies in the amount of 325.5 million manat ($191.5 million). A total of 41,611 borrowers were issued 2.362 billion manat ($1.38 billion) of mortgage loans," the press service said.
Only in the first half of 2022, the Mortgage and Credit Guarantee Fund of Azerbaijan leased 388 apartments to own them subsequently. The Fund has also provided business loan guarantees amounting to 34,264 manat ($20,176).
The Mortgage and Credit Guarantee Fund was established following the Presidential Decree in 2017 through the reorganization and merger of Azerbaijan Mortgage Fund OJSC and Azerbaijan Credit Guarantee Fund OJSC.