BAKU, Azerbaijan, February 20. A total of 4,421 Azerbaijani residents have improved their housing conditions within the system of transferring residences for rent with the right to purchase, the Mortgage and Credit Guarantee Fund (MCGF) of Azerbaijan told Trend.
"As of today, the fund had offered guarantees and subsidies on commercial loans totaling 430.9 million manat ($253.4 million), while mortgage loans worth 2.9 billion manat ($1.7 billion) were provided to 48,243 customers through the MCGF," the press service said.
To note, the Mortgage and Credit Guarantee Fund was established by the decree of the President of Azerbaijan in 2017 through the reorganization and merger of the Azerbaijan Mortgage Fund and Credit Guarantee Fund of Azerbaijan.