President signs a decree on mortgage & credit guarantee fund

16:13 - 26 January 2023

January 26, Fineko/ President Ilham Aliyev has signed a decree amending the decree on additional measures to ensure the activities of the Azerbaijani Mortgage & Credit Guarantee Fund.

ABC.AZ reports that this mechanism previously applied to manat loans given for the period from January 1, 2018 to December 31, 2022.

Under the decree, loans given before December 31, 2024 now fall under this mechanism.

In addition, subsidies were originally supposed to be provided in 2019-2025. According to the new decree, the deadline for granting subsidies has been extended until 2027 inclusive.

The annual amount of funds for subsidizing interest on loans is determined by the Cabinet Ministers.