THE AMOUNT OF MORTGAGE LOANS PASSED AZN 2 000 000 000

The amount of mortgage lending through the Mortgage and Credit Guarantee Fund of the Republic of Azerbaijan has passed AZN 2 billions as of January 13, 2022. Since 2006 the number of families improved their housing conditions through mortgage lending has reached 37000.

Being one of the main social priorities of the government, the improvement of mechanisms of housing provision and accessability for the population is the main aim of the Fund at the moment.

Thanks to the goverment support, over the last 15 years the effective and the efficient financial mechanisms have been formed for people that need to improve their housing conditions. 

As a social government program this mechanism is successful enough because favourable interest rates have been maintained on mortgage loans and favourable mortgage programs have been implemented for people with special services to the state. Allocations from state budget have been regularly provided for financing social mortgage lending.

70% of borrowers are the youth and young families.

Today measures are being taken in the direction of adjusting lending terms to financial-economic frame and to the demand of population considering current realities, as well as implementing innovations in mortgage lending mechanism in accordance with the best international practice.

The Fund will continue its activities in the direction of housing provision of population in 2022 as well.