1,600 apartments rented with redemption in Azerbaijan

To date, the Azerbaijan Mortgage and Credit Guarantee Fund has issued 2.184 billion manats ($1.285 billion) of loans to 39,197 borrowers, Report informs, citing the fund.

Besides, the fund said that so far, 302.383 million manats in business loans have been guaranteed, and 1,600 apartments have been sold.

The Azerbaijan Mortgage and Credit Guarantee Fund was established at the end of 2017 as a result of the merger of the Azerbaijan Mortgage Fund and the Credit Guarantee Fund and is their legal successor. The fund acts as a government agent offering liquidity support to national financial institutions to provide long-term subsidized mortgage loans and access to cheap financial resources.