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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