Azerbaijan Mortgage Fund Issues Loans to 59,216 Borrowers Worth 4.3 Billion Manats
The Mortgage and Credit Guarantee Fund of Azerbaijan has issued loans totaling 4 billion 338 thousand manats to 59,216 borrowers and sold 9,657 apartments through rental.
AI will summarize what happened, why it matters and what it means for business.
To date, the Mortgage and Credit Guarantee Fund has issued loans totaling 4 billion 338 thousand manats to 59,216 borrowers. This is stated in the Fund's information.
Additionally, 9,657 apartments have been sold through rental.
The Fund was established in late 2017 as a result of the merger of the Azerbaijan Mortgage Fund OJSC and the Credit Guarantee Fund, and is their legal successor. The Fund operates as a state agent providing liquidity support to national financial institutions in connection with the issuance of long-term subsidized mortgage loans and ensuring access to cheap financial resources.
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BeforeLate 2017
Creation of the Mortgage and Credit Guarantee Fund through the merger of the Azerbaijan Mortgage Fund OJSC and the Credit Guarantee Fund
Now
The Mortgage and Credit Guarantee Fund of Azerbaijan has issued loans totaling 4 billion 338 thousand manats to 59,216 borrowers and sold 9,657 apartments through rental.
Next
The fund is expected to continue issuing loans and selling housing, possibly with new programs.