A cooperation agreement signed between MIDA and banks VTB-Azerbaijan and IBA


September 6, Fineko/abc.az. MIDA expands cooperation with the agent banks of the Azerbaijan Mortgage & Credit-Guarantee Fund (AMCGF).

MIDA reports that it has signed a cooperation agreement with VTB-Azerbaijan and the International Bank of Azerbaijan (IBA)

Under the agreement, citizens will be able to get a subsidized loan from AMCGF through banks for purchase of social housing, being built by MIDA.

Agency’s mortgage rate for purchase of real estate starts from 4% per annum and the loan term up to 30 years.

MIDA is currently implementing two projects on construction of social housing in Baku.

Thus, the number of banks that have signed a cooperation agreement with MIDA has reached six. Earlier, similar contracts were signed with Kapital Bank, Bank BTB, UniBank, and Azer-Turk Bank.


Keywords: MIDA