Only social mortgage loan lending to be funded from the state budget in Azerbaijan

Only social mortgage loan lending to be funded from the state budget in Azerbaijan
# 08 June 2007 13:12 (UTC +04:00)
He added that A ZN 20 million earmarked for 2007 will be delivered to the Azerbaijan Mortgage Fund in a few days and it is planned to apply the government for additional funding.
“The AMF’s financial resources are on the order of AZN 46 million. We have applied the prime minister or additional funds. The government will likely consider this issue, I think,” he added.
He underlined that a demarcation line will be drawn between social and commercial mortgage loan lending in he nearest future.
“The State Budget will only finance social (concessional) mortgage loans which are targeted to particular groups. Commercial mortgage loans will be brought inline with market parameters. Control over mortgagee banks has been strengthened,” he added. /APA-Economics/

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