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Mortgage loans in Kyrgyzstan to be generally available by mid 2017

Kyrgyz citizens will able to get mortgage loans on Affordable housing program in the middle of 2017. The Chairman of the State Mortgage Company Bakytbek Shamkeev said today at a press conference.

According to him, the State Mortgage Company has signed an agreement with the Ministry of Finance at 2.5 billion soms. Last year, there was received 1 billion soms. However, this money is provided only for the issuance of loans to employees of budgetary institutions.

«As for the other categories of citizens, it is planned to attract resources from other sources. German Bank is ready to allocate €11 million. Citizens living in the regions will be able to take mortgage loans. In addition, money from the sale of mortgage-backed securities will be allocated for these purposes," Bakytbek Shamkeev said.

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