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Social mortgage rules announced by state youth program in Azerbaijan

14 June 2011 09:03 (UTC +04:00)

Baku. Kamala Guliyeva â€“ APA. The work on the draft state program â€œAzerbaijani youth in 2011-2015â€ was finished and the draft program was submitted to the ministries to be coordinated, deputy minister of youth and sports Intigam Babayev told journalists. According to APA, the deputy minister said the coordination process would be ended in a few days and then the draft program would be submitted to signing. Babayev said first the ministries of finance and economic development should make financial prognosis on State Program.

Deputy minister said the program also included an article about the mortgage for young families and just after the adoption of the program, the social mortgage rules would be facilitated, at the same time, categories covering the social mortgage would be increased. Babayev said financial resources allocated within the social mortgage were also expected to be increased. â€œSocial mortgage fund is about 35 000 AZN. It will be significantly increased. According to the new rules, social mortgage credit will be given not only to the young families, but also to the young single peopleâ€.

Deputy minister said construction of the youth town was not on the social mortgage agenda.