BAKU, Azerbaijan, September 12. As many as 2,260 citizens improved their living conditions as part of the rent-to-own system, the Press Service of Mortgage and Credit Guarantee Fund of Azerbaijan told Trend.
"The Fund has offered business loan guarantees in the amount of 319.67 million manat ($187.88 million). As of September 12, 40,218 borrowers were issued 2.264 billion manat ($1.3 billion) of mortgage loans through the Fund," the press service said.
Only in the first half of 2022, the Mortgage and Credit Guarantee Fund of Azerbaijan leased 388 apartments to own them subsequently. In the reporting period, the Fund provided business loan guarantees amounting to 34,264 manat ($20,138).
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.
