2015-2020 Kyrgyz Republic State Program Accessible Housing objectives are to facilitate access to houses for people of Kyrgyz Republic by construction of apartment houses in necessary amount in all regions of the country; providing mortgage opportunities to people; involving country's banking sector in programs of accessible mortgage under conditions of refinancing.
Under conditions of this agreement State Mortgage Company is ready to allocate investments for total amount of 500 000 000 (five hundred million) som for purchasing social housing under 2015-2020 Kyrgyz Republic State Program Accessible Housing
Mortgage loans were initially issued to borrower of Aiyl Bank for the period of 15 years at interest rates from 12 to 14% per month depending on borrower's contribution. This mortgage loan is available for KR nationals of age from 21 to 65- employees of budget companies. Collateral will be the houses to be insured on mandatory basis.
The key factor in selection process of agency bank was considered the following: positive growth and high quality of loan portfolio, as well as profitability growth in Aiyl Bank. For the last years the banks achieved significant results: as of 01.01.2016 Bank assets are 16,4 bln.som and increased more than 1,5 times comparing to similar period of last year. Loan portfolio is 10,1 bln.som and increased more than 1,3 times comparing to similar period of 2015. At the same time loan repayment rate is over 99%.