Azerbaijan's Cabinet of Ministers: Mortgage loans will be restructured based on requests from borrowers

Azerbaijan's Cabinet of Ministers: Mortgage loans will be restructured based on requests from borrowers
  • Clock-gray 11:33
  • calendar-gray 26 April 2020

In order to support individuals (not engaged in entrepreneurial activity), opportunities will be created for the restructuring of mortgage loans issued at the expense of the Mortgage and Credit Guarantee Fund, said Ibrahim Mammadov, the head of the press service of the Cabinet of Ministers of the Republic of Azerbaijan, APA reports.

According to him, as a result of 23,000 mortgage borrowers totaling 1.1 billion manats will be able to take advantage of the created opportunities, loans based on requests from borrowers will be restructured.

At the same time, in order to stimulate the issuance of loans by banks at their own expense, it was decided to reduce the risk level for loans of this category from 100 to 50 percent.

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