BAKU, Azerbaijan, January 11. A total of 4,386 Azerbaijani citizens have improved their housing conditions within the mechanism of transferring apartments for rent with the right to buy, the press service of the Mortgage and Credit Guarantee Fund (MCGF) of Azerbaijan told Trend.
"As of today, the fund had offered guarantees and subsidies on commercial loans totaling 430.9 million manat ($253.4 million). Mortgage loans worth 2.8 billion manat ($1.6 billion) were provided to 47,851 customers through the MCGF as of January 8," the press service said.
To note, in 2017, the President of Azerbaijan issued a decree establishing the Mortgage and Credit Guarantee Fund by reorganizing and merging the Azerbaijan Mortgage Fund and the Credit Guarantee Fund.
The agent banks of the MCGF issued mortgage loans amounting to 422.7 million manat ($248.6 million) in 2022.
