CBA announces volume of annual demand for social mortgage in Azerbaijan

According to studies conducted by the Central Bank of Azerbaijan (CBA), an average annual demand for social mortgage in Azerbaijan amounts to 100 million manat, Deputy Chairman of the Central Bank of Azerbaijan Aftandil Babayev said on Thursday.

"We propose to increase the amount provided by the state budget for social mortgage, because we also take into account the need within the state program on youth development in the country," Babayev said. "Today, expenses worth 20 million manat provided by the state budget for these purposes are insufficient, and we consider it appropriate to increase this amount".

He believes 100 million manat for social mortgage will be more tangible, and will be more useful for this category of people. In January-November, Azerbaijan Mortgage Fund (AMF) issued loans worth 85.88 million manat. In November, loans worth 11.48 million manat were issued.


/Trend/