BAKU, Azerbaijan, December 14. As many as 2,937 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 December 14, the Fund has offered business loan guarantees and subsidies in the amount of 331.17 million manat ($194.57 million). A total of 42,049 borrowers were issued 2.398 billion manat ($1.4 billion) of mortgage loans," 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 ($20,131).
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.