Bishkek, May 25, 2021. / Kabar /. Aida Tologonova, chairperson of the State Mortgage Company of Kyrgyzstan, spoke at a press conference at Kabar Agency about the new housing My House 2021-2026 program.
She said that the new program was initiated by President of Kyrgyzstan Sadyr Zhaparov.
Tologonova noted that the main directions of the program are:
- increasing the availability of state mortgage lending by reducing the interest rate to 4% per annum, as well as developing a rental housing mechanism with subsequent purchase;
- attraction of funds to the sector of state mortgage housing lending through the issue and placement of securities;
- formation of their own housing stock for subsequent provision to the citizens of the country;
- work with international donors on attracting investments in the sector of state mortgage lending.
“For the implementation of the new housing program, 30 billion soms will be allocated within 5-6 years and it is planned to build 800 thousand square meters of affordable housing. A gradual reduction of the final interest rate on previously issued state mortgage loans to 4% per annum is envisaged,” he said.
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