Azerbaijani Mortgage Fund to Draw Funds
Azerbaijan, Baku / Trend corr. U.Ismaylova / The Azerbaijani Mortgage Fund (AMF) at the National Bank of Azerbaijan is holding consultations to draw funds and proposals for mortgage crediting.
AMF suspended refinancing of mortgage credits due to lack of funds. Some AZN 26mln was allocated from the State budget of 2006 and AZN 20mln for 2007.
AMF's officials travelled to the US, Kazakhstan and Lithuania to become familiar with the mortgage crediting system of different countries, the issue of securities and to draw local and foreign investors. AMF is holding negotiations with local and foreign financing structures.
AMF has been functioning since 2006.