TODAY.AZ / Business

Technical cooperation memorandum signed between Azerbaijan Mortgage Fund and ACDI/VOCA

26 May 2006 [08:55] - TODAY.AZ
Azerbaijan Mortgage Fund (AMF) and ACDI/VOCA, which has activities in Azerbaijan, have signed a technical cooperation memorandum with the aim of encouraging mortgaging development in Azerbaijan.

APA reports that the memorandum has been signed by Faig Mammadov, AMF Executive Director, and by Muhammad Junaid, ACDI/VOCA representative to Azerbaijan. The projected is supported by US Agency for International Development (USAID).

Mortgaging process which is financed by the state budget has been started since March, 1 this year. AMF has chosen 15 attorney banks for this purpose. They are: International Bank of Azerbaijan, Azerdemiryolbank, Azerigasbank, Atabank, Bank of Baku, Bank Standard, Caucasus Development Bank, Nikoil Bank, Texnikabank, Turanbank and Xalgbank.

Mortgage is granted by Bank Standard, Texnikabank, Xalgbank, Turanbank, Nikoil Bank, Azerdemiryolbank and UniBank.


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