BAKU, Azerbaijan, September 29. As many as 2,449 citizens improve their living conditions as part of the rent-to-own system, Head of Mortgage Loans Department of Azerbaijani Mortgage and Credit Guarantee Fund Rasim Abdullayev said during media training, Trend reports.
"As of September 27, the Fund has offered business loan guarantees and subsidies in the amount of 320.7 million manat ($188.8 million). A total of 40,438 borrowers in 50 regions were issued 2.85 billion manat ($1.6 billion) of mortgage loans," he 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.