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State Mortgage Company issues loans for 1.7 billion soms for year and half

As of July 11, 2017, the State Mortgage Company of Kyrgyzstan issued 1,410 loans for the amount of 1.7 billion soms, its Chairman Bakytbek Shamkeev said today at a press conference.

As of June 1, 2017, commercial banks issued mortgage loans in the country worth 8.8 billion soms. Of these, from the funds of the State Mortgage Company — more than 1.1 billion soms or 13 percent. For five months in 2017, the State Mortgage Company issued mortgages for 613 million soms.

«Now we are working on two mechanisms. Money is given for the purchase of finished housing and for individual construction. We are also working to raise additional funds for our company. For this, the mechanism of government securities is already being implemented. We will build economy-class housing and thus introduce a mechanism for renting housing with subsequent redemption," Baktybek Shamkeev said.

For the construction of economy-class housing, the State Committee for Construction has already announced a tender for choosing a company that will build a nine-storey 135-apartment house in Dzhal microdistrict.

In Naryn, a tender for the construction of a five-story 60-apartment building was announced. It is planned to build 60-apartment houses in Osh, Jalal-Abad, Talas, Karakol, Tokmak and Batken. Until the end of 2020, the State Mortgage Company is going to build 130 square meters of housing.