Nearly $60M to be allocated to Mortgage and Credit Guarantee Fund next year

The Mortgage and Credit Guarantee Fund of Azerbaijan is planned to receive 101 million manats ($59.4 million) from the state budget next year, Finance Minister Samir Sharifov said at the meeting of the Milli Majlis Committee for Economic Policy, Industries, and Enterprising, Report informs.

According to him, 87.7 million manats ($51.6 million) of this amount will be allocated for increasing the authorized capital of the Fund for providing preferential mortgage loans and 13.3 million manats ($7.8 million) for subsidizing entrepreneurs.