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Kyrgyzstan develops new state mortgage program

New draft program of preferential state mortgage for 2020-2025 was developed in Kyrgyzstan, taking into account the experience of implementation of the past program. The Ministry of Economy reported.

It is planned that the total funding of the program will be at least 12.5 billion soms. In particular, 10 billion soms should be used for financing mortgage loans and 2.5 billion soms — for construction of economy class housing.

It is expected that 40 percent of the required amount will be allocated from the budget for the program, donor funds will make up 50 percent and profit from issue of mortgage securities — 10 percent.