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Government of Kyrgyzstan still not allocated money for state mortgage

Government of Kyrgyzstan still has not allocated money for the state mortgage. Acting Chairman of the Board of the State Mortgage Company Baktybek Shamkeev told today at a press conference.

According to him, 500 million soms should be allocated from the budget to finance the State Mortgage Company. The company hopes to increase funding to 1.5 billion soms, but the money is not allocated so far.

Baktybek Shamkeev refused to answer the question why money was not allocated from the budget.

His deputy Gulnara Nurkulova added: despite the fact that the government did not allocate money, granting of loans did not stop. Since the beginning of the year, the State Mortgage Company has issued loans for 507 million soms.

Problems with the financing of the State Mortgage Company arise every year. In March 2018, Nurzhigit Usenakun uulu, Deputy Chairman of the Board of the State Mortgage Company, admitted the existence of «a small problem.» The government does not allocate money. The problem existed also at the end of 2017.