Exciting news from BAKU, Azerbaijan! The state budget will be utilized to increase the authorized capital of the Mortgage Credit Guarantee Fund for preferential mortgage lending to military personnel. President Ilham Aliyev’s decree amends the “Regulations on the Electronic Mortgage and Credit Guarantee System” to reflect this important development.
The Ministry of Defense will play a key role in providing financial support for preferential mortgage loans to military personnel, while the Ministry of Finance will allocate funds in the state budget for this purpose. The Mortgage Credit Guarantee Fund, established in November 2005, will manage mortgage lending, guarantee loans, and enhance its activities to increase efficiency and reliability.
This initiative aims to strengthen support for military personnel by expanding access to preferential mortgage loans. The Mortgage Credit Guarantee Fund will take necessary measures to implement the decree and ensure a seamless process for military personnel seeking mortgage loans. This significant step highlights the government’s commitment to supporting its armed forces and promoting affordable housing for military personnel in Azerbaijan.
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