BAKU, Azerbaijan, April 4. Under the transfer of apartments for rent with purchasing rights, 3,287 citizens have improved their living conditions, the press service of the Mortgage and Credit Guarantee Fund (ICGF) of Azerbaijan told Trend.
"As of April 4, the fund has provided guarantees and subsidies on business loans worth 349.7 million manat ($205.7 million). Moreover, today 43,592 borrowers were issued mortgage loans worth 2.5 billion manat ($1.4 billion) via the ICGF," the source said.
Furthermore, from January through December 2022, ICGF agent banks issued mortgage loans amounting to 422.7 million manat ($248.6 million).
The Mortgage and Credit Guarantee Fund was established by the decree of the President of Azerbaijan in 2017 through the reorganization and merger of Azerbaijan Mortgage Fund OJSC and Azerbaijan Credit Guarantee Fund OJSC.