BAKU, Azerbaijan, June 20. As many as 3,485 citizens improved their living conditions as part of the rent-to-own system, the press service of Mortgage and Credit Guarantee Fund (MCGF) of Azerbaijan told Trend.
"As of today, the fund has offered business loan guarantees and subsidies in the amount of 358.07 million manat ($210.6 million). As of June 20, 44,886 borrowers were issued 2.6 billion manat ($1.5 billion) of mortgage loans," the press service said.
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.
MCGF agent banks issued mortgage loans in the amount of 422.7 million manat ($248.6 million) in 2022.