Karimov: Governance is key in housing policy

Governance is just as important as financing in housing policy, Anar Karimov, First Deputy Minister of Finance of Azerbaijan and member of the Supervisory Board of the Mortgage and Credit Guarantee Fund, said during an event within the 13th Session of the World Urban Forum (WUF13) in Baku, Report informs.

Karimov explained why the mortgage model is crucial: "What makes the mortgage model so important is that it combines not only state support but also capital market financing. Because we often emphasize that this is not only about financing, but also about governance. On one hand, the government supports concessional social mortgages for vulnerable groups; on the other hand, there is bond issuance in the domestic capital market. And this balance is very important."

The deputy minister added that while standard mortgages are accessible to citizens, there are also concessional housing options for vulnerable groups: "These include refugees, internally displaced persons, military personnel, socially significant groups, teachers, and of course families of those returning from war."