BAKU, Azerbaijan, October 9. President of the Republic of Azerbaijan Ilham Aliyev has signed a decree on making amendments to the charter of the Mortgage and Credit Guarantee Fund of the Republic of Azerbaijan, TurkicWorld reports.
The decree stipulates that the fund's authorized capital will rise from 980.7 million manat ($576.8 million) to over 1.68 billion manat ($98 million).
The authorized capital increase of the Mortgage and Credit Guarantee Fund will be backed by nearly 88.7 million manat ($52.1 million) allocated from the 2024 state budget for the financing of subsidized mortgage loans.
The Ministry of Finance has been tasked with ensuring the funding as specified in the decree.
The Fund should solve the issues arising from this decree.
