President of Kyrgyzstan Sooronbai Jeenbekov recommended the State Mortgage Company to step up efforts to attract foreign investments. Information Policy Department of the Presidential Administration reported.
The president received the Chairman of the State Mortgage Company Baktybek Shamkeev. They discussed implementation of the program Affordable Housing 2015-2020. Sooronbai Jeenbekov recommended to step up efforts to find additional resources and attract foreign investment, increase budget loans at the expense of additional funds.
The head of state outlined the need to intensify work on the issue and sale of mortgage-backed securities, bringing the company’s capitalization level to 600 million soms, determining the main directions of measures to implement the program of construction of high-rise economy class housing.
«Affordable Housing 2015-2020 is a social program. When crediting, it is necessary to take into account the solvency of the population, especially in rural areas,» Sooronbai Jeenbekov stressed.
According to Baktybek Shamkeev, as of April 1, 2019, at least 4,080 loans of more than 4.6 billion soms have been granted through 14 partner banks. As a result, about 16,000 citizens are provided with housing. Interest rate was reduced to 7-9 percent. Work is underway to reduce it to 6 percent.
Agreements for €20 million have been signed with the German Development Bank and the Ministry of Finance of Kyrgyzstan, which will be used to support mortgage lending.
«The chairman of the State Mortgage Company said that negotiations were underway with the Asian Development Bank on a financing project. ADB representatives will arrive in Kyrgyzstan in near future to assess the company. After the assessment, they will begin preparations for signing agreements for €30 million. Negotiations with other international donors are underway,» the message says.
