BAKU, Azerbaijan, December 17. The State
Mortgage Company of Kyrgyzstan and the Asian Development Bank (ADB)
have signed an agreement to allocate grants and concessional loan
funds totaling $65 million, Trend reports via the State Mortgage Company.
The agreement was signed by Talant Zhekshenov, Chairman of the
State Mortgage Company Board, and Zheng Wu, Country Director of the
ADB Representative Office in Kyrgyzstan. The funding will be used
to implement the "Expanding Access to Affordable and
Energy-Efficient Housing" project.
This initiative is part of the national housing program "My
Home" and aims to support citizens with low to middle-income
levels.
A key feature of the project is the adherence to modern "green"
construction standards. The buildings to be constructed will be
highly energy-efficient and resilient, which will help reduce the
operational costs for future residents and ease the load on the
energy grid.
The agreement also highlights social aspects and gender
equality, with special quotas and support measures for vulnerable
populations. The collaboration with the international institution
will not only provide housing for those in need but also introduce
advanced energy-saving technologies into the country’s construction
sector.
Kyrgyzstan's "My Home" program is a national initiative aimed at
improving living standards by providing affordable, long-term
mortgage financing, particularly for lower-income citizens. It
focuses on the construction of approximately 2,100 new affordable
housing units, offers Shariah-compliant mortgage options, and
entails government support through land allocation and oversight.
The initiative is also aligned with broader sustainable development
goals.
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