Anar Karimov: Accessibility and sustainability of financing are key to solving housing problem

Accessibility and sustainability of financing mechanisms are becoming key conditions for solving the global housing problem.

Report informs that Azerbaijan's First Deputy Finance Minister Anar Karimov said this at the event "New Deal for Housing Financing" held as part of WUF13 in Baku.

Karimov noted that Azerbaijan is already introducing innovative mechanisms in housing finance.

"Local financing is of great importance. Over the past 20 years, a sustainable housing finance system has been ensured. A total of 58,000 mortgage agreements have been signed," he said.

He emphasized that modern housing policy goes far beyond the construction of buildings, adding that one of the most alarming global trends is the forecast that about 3 billion people may need housing by 2030.

Karimov also said Azerbaijan has allocated more than $10 billion for housing construction and the restoration of liberated territories.

"We view this not only as a social issue, but also as a development issue," he added.