Azerbaijan plans housing PPP

The Central Bank of Azerbaijan has called for a new PPP to solve the country’s housing shortage.

Elman Rustamov, the chairman of the Bank has proposed a number of initiatives in the State Budget for 2014, calling in particular for creation of the PPP to solve housing problems of citizens.

“The Bank can see the resolution of housing and mortgage problem in creation of a PPP where the State will contribute by constructing cheap and comfortable apartments, Rustamov said.

“This issue is now being negotiated with the Ministry of Finance. The role of citizens in this partnership will be defined by their participation in building-and-loan banks," he added.