Azerbaijan's Mortgage and Credit Guarantee Fund to receive nearly $59M from budget

Next year, Azerbaijan will allocate 100 million manats ($58.77 million) from the state budget to the Mortgage and Credit Guarantee Fund, Report informs, citing the country’s Finance Ministry.

According to the ministry, 87.7 million manats ($51.54 million) will be used to meet the housing needs of the population and purchase housing on preferential terms for citizens, and 12.3 million manats ($7.22 million will be used to subsidize accrued interest on loans received by entrepreneurs in manats.