Eldik Bank and the State Mortgage Company Sign Agreement to Launch Affordable and Energy-Efficient Housing Project
OJSC Eldik Bank and OJSC State Mortgage Company have signed a General Refinancing Agreement under the “Expanding Access to Affordable and Energy-Efficient Housing” project, implemented with the support of the Asian Development Bank (ADB). The total financing for the project amounts to US$65 million.
The agreement was signed by Ulanbek Nogaev, Chairman of the Management Board of OJSC Eldik Bank, and Talant Zhekshenov, Chairman of the Management Board of OJSC State Mortgage Company.
The project marks an important milestone in the development of Kyrgyzstan’s affordable housing finance system and will expand opportunities for citizens to purchase their own homes on preferential terms.
The first phase of the project will introduce a new social initiative, the Women’s Mortgage Program, designed to improve women’s access to mortgage financing. The program will enable women to purchase their own homes under favorable lending conditions.
Under the program, borrowers will benefit from the following preferential mortgage rates:
10.75% per annum (APR from 11.37%) for the purchase of housing in Bishkek and Osh;
9.75% per annum (APR from 10.26%) for the purchase of housing in the regions of the Kyrgyz Republic.
The next phase of the project will introduce the Green Mortgage Program, which will promote the purchase of energy-efficient housing, encourage the adoption of modern environmentally friendly construction technologies, and reduce energy consumption in residential buildings. The program will represent another important step toward the sustainable development of the construction sector and an improved quality of life for the population.
Ulanbek Nogaev, Chairman of the Management Board of OJSC Eldik Bank, noted that the Bank’s participation in the project reflects its strategic commitment to expanding access to financial solutions and supporting initiatives that contribute to the country’s sustainable development.
“The launch of these new mortgage programs will make homeownership more accessible for citizens, support women in achieving their housing goals, and encourage the development of energy-efficient construction in Kyrgyzstan,” said Ulanbek Nogaev.
According to Talant Zhekshenov, Chairman of the Management Board of OJSC State Mortgage Company: “The Women’s Mortgage Program and the Green Mortgage Program are important steps toward making homeownership more affordable. We place particular emphasis on supporting women in the regions, helping them build confidence in the future and improve the quality of life for their families.”
