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State mortgage rates to drop to 6-8 percent in Kyrgyzstan

The State Mortgage Company of Kyrgyzstan plans to provide 1.5 billion soms of loans in 2019. Chairman of the State Mortgage Company, Baktybek Shamkeev, told today at a press conference.

According to him, the company has already granted loans for 42 billion soms, more than 210,000 square meters of housing have been acquired for the money. More than 14,000 citizens were provided with housing.

«Since autumn 2018, interest rates have been reduced to 7–9 percent per annum. By the end of the year, the interest rate will drop to 6-8 percent,» Baktybek Shamkeev told.

As part of raising extra-budgetary funds, an agreement for €11 billion was signed between the governments of Kyrgyzstan and Germany, which will be allocated by the German Development Bank.

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