TODAY.AZ / Business

USAID SME Support through Financial Sector Development Project conducts presentation

12 December 2006 [23:32] - TODAY.AZ
USAID-funded Azerbaijan Small and Medium Enterprise Support through Financial Sector Development Project held a presentation of proposals on December 11 on legal analysis and amendments to the legislation aimed at improving mortgage lending.

Executive Director of the Azerbaijan Mortgage Fund Faig Mammadov told of the mortgage lending system in Azerbaijan, improvement of mortgage laws, relaxation of mortgage rules etc.

It was noted that the next step is to cut first mortgage payment, which is now 30%, extend the term of loan, increase the amount.

The event participants heard the reports by international and local experts on the mortgage legislation, development of the mortgage market in Azerbaijan and role of the Azerbaijan Mortgage Fund. AzerTAg

URL: http://www.today.az/news/business/33826.html

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