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Social mortgage coverage to expand in Azerbaijan - minister

Business Materials 6 November 2018 17:35
Azerbaijan’s draft state budget for the next year provides for the allocation of 162 million manats to provide the population with housing on preferential terms
Social mortgage coverage to expand in Azerbaijan - minister

Baku, Azerbaijan, Nov. 6

By Ilhama Isabalayeva - Trend:

Azerbaijan’s draft state budget for the next year provides for the allocation of 162 million manats to provide the population with housing on preferential terms, Finance Minister Samir Sharifov said.

He was speaking Nov. 6 at a joint session of Azerbaijan’s parliamentary committees on culture, labor and social policy, family, women and children affairs, science and education, as well as healthcare in the Azerbaijani parliament.

He noted that social mortgage coverage will further expand.

“There are plans to allocate additional funds to improve the living conditions of military personnel, families of war victims and IDPs,” the minister said.

The family members of war victims, national heroes, IDPs, civil servants with at least a three years' experience, teachers of secondary schools with at least a five-year service term, PhDs, doctors of science and those having special merits in sport as well as the military with at least a three-year service term can use the preferential mortgage conditions.

Each family having the right to such a mortgage loan can use it only once.

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