Azerbaijan, Baku / Trend corr. I. Khalilova / The International Finance Corporation (IFC) is to finance mortgage crediting through the Azerbaijani banks by the end of 2007 and beginning of 2008, Aliya Azimova, the representative of the Corporation, said on 19 October.
The program for supporting mortgage crediting is being held within the framework of the second stage of technical assistance provided by IFC in the housing finance sphere in Central Asia and Azerbaijan. IFC will finance approximately four or five. IFC is not considering cooperating with the Azerbaijani Mortgage Fund operating at the National Bank of Azerbaijan.
"The corporation does not finance state organizations such as the Azerbaijani Mortgage Fund," Azimova said.
Azimova refused to announce the volume of financing before it would be approved by the Corporation. However, IFC cannot finance more than 60% from the joint capital of banks.