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State Mortgage Company to launch Affordable Mortgage project

The State Mortgage Company of Kyrgyzstan will launch Affordable Mortgage project in 2019. The Deputy Minister of Economy Eldar Abakirov told today at a press conference.

According to him, those who wish to get a mortgage will be able to apply to the company in order to save up for the down payment. A person will be able to save up the required amount within three years. At the same time, rates on this deposit will be about 5 percent.

«When the amount is enough, a person can get a long-term loan from the State Mortgage Company with a rate of 10-14 percent for 10-15 years. This project is attractive for young people. In addition, we expect that thanks to the project, it will be possible to solve the problem with the purchase of housing for workers of the garment industry,» said Eldar Abakirov.