BAKU, Azerbaijan, October 26. As many as 2,634 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.
"As of October 26, the Fund has offered business loan guarantees and subsidies in the amount of 322.9 million manat ($189.4 million). A total of 41,262 borrowers were issued 2.37 billion manat ($1.394 billion) of mortgage loans as of October 25," 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. The Fund has also provided business loan guarantees amounting to 34,264 manat ($20,156).
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.
