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Investment Attraction

Attraction of investments into the sector of state mortgage lending is one of the main activity directions of State Mortgage Company OJSC.

German Development Bank (KfW). Within the framework of intergovernmental agreements between the Government of the Kyrgyz Republic and the Government of the Federal Republic of Germany there is an agreement on providing grant funds for housing financing in the Kyrgyz Republic. The funds will be provided through the German Development Bank (KfW).

Phase I - housing finance for families with low and middle incomes in rural areas and small towns (except Bishkek and Osh) - 11 million euros (10.5 million euros in the capital of State Mortgage Company OJSC, 0.5 million euros for the technical support). It is implemented today in rural regions of the country, except for the cities of Bishkek and Osh. Mortgage loans are granted under the following conditions: 10% per annum, up to 15 years. Detailed information at the following link.

Phase II - 9 million euros (8.5 million euros in in the capital of State Mortgage Company OJSC, 0.5 million euros for the technical support).

Phase III - in July 2019, in intergovernmental negotiations, an agreement was reached to swap the debt to the Government of the Federal Republic of Germany in favor of State Mortgage Company OJSC in the amount of 14.9 million euros (gradual disbursement of 5 million euros per year is planned).

Eurasian Development Bank. At the meeting of the Council of the Government of the Kyrgyz Republic on fiscal and investment policy on August 6, 2019 the "Housing Finance" Project funded by the Eurasian Fund for Stabilization and Development was approved. To date, the project application has been sent to the Eurasian Fund for Stabilization and Development.

It should be noted that today the regions of the country, except Bishkek and Osh cities, are implementing Phase I of the KfW project - housing finance for families with low and middle income in rural areas and small towns. Mortgage loans are provided under the following conditions: 10% per annum, up to 15 years.

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