The authorized capital of the Mortgage and Credit Guarantee Fund of the Republic of Azerbaijan has been increased.

APA reports that this was reflected in the amendment to the "Charter of the Mortgage and Credit Guarantee Fund of the Republic of Azerbaijan" by the decree of President Ilham Aliyev.

According to the amendment, the charter capital of the Fund was increased from 798,000,000 (seven hundred and ninety-eight million) manats to 893,000,000 (eight hundred and ninety-three million) manats.

According to the decree, 95.0 (ninety-five) million manats allocated to the Fund from the state budget of 2022 will be provided for the increase of the authorized capital of the Mortgage and Credit Guarantee Fund of the Republic of Azerbaijan (financing of discounted mortgage loans).

The Ministry of Finance must provide financing in the amount stipulated in this Decree.