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The authorized capital of the Mortgage and Credit Guarantee Fund was increased by 87.7 million manats and brought to 1 billion 68 million manats. In this regard, the President of Azerbaijan signed a decree. An increase in the authorized capital will be possible due to the allocation of 87 million 700 thousand manats from the state budget to finance preferential mortgage loans.
A member of the Milli Majlis wrote about this on his social network account. Vugar Bayramovreports Day.Az.
“President of Azerbaijan Ilham Aliyev annually signs a corresponding decree on increasing the authorized capital of the Mortgage and Credit Guarantee Fund. These funds, allocated from the state budget, are used to finance social mortgages. Almost every financial year, deductions are made for the provision of preferential mortgage loans, and in the fall of the same year, funds are added to the authorized capital. In general, the offer of more mortgage loans becomes possible as the authorized capital of the fund increases. This also expands the portfolio of these loans on preferential terms, which also means the opportunity to take advantage of preferential mortgage loans for more of our citizens. issued 51 thousand 778 mortgage loans. And the amount of issued mortgage loans exceeds 3 billion 249 million manats,” Bayramov noted.