OREANDA-NEWS. July 30, 2009. The International Finance Corporation (IFC), a member of the World Bank Group, is ready to expand the IFC Project of Primary Mortgage Market in Central Asia and Azerbaijan

An IFC Project source says that the Corporation has plans first of all to widen co-operation and assistance to the Azerbaijan Mortgage Fund under the Central Bank.

“Currently we are negotiating with the Fund to reveal new directions of partnership where our assistance could be useful,” the source said.

Original goal of assistance was commercialization of AMF activity that has led to drafting of Bill on Covered Bonds. Recently with the IFC assistance it was chosen two local companies to deal with analysis of demand at the mortgage market and analysis of supply.

Primarily 10 companies displayed an interest to analysis of demand at the mortgage market and 9 companies to analysis of supply.

A brief list of the tender participants (by three claimants on each direction) was formed. On 29 June, they submitted final technical and financial bids filled in on the IFC forms.

The survey is conducted to order of the Central Bank and AMF operating under its authority.

The survey will include appraisals of demand and supply at the market of housing real estate, availability of supply and demand for mortgage loans, their terms, etc. The appraisals will be a basis for further steps of the CB and AMF at this market.

Objective of the assignment is to survey the housing market and mortgage lending demand in Azerbaijan.

The consultant will be a firm or consortium.

Interested consultants must provide information indicating that they are qualified to perform the services (brochures, description of similar assignments, experience in similar conditions, availability of appropriate skills among staff, etc).
The Project budget is USD 3.2 million.