The Cabinet of Ministers of Kyrgyzstan and the Saudi Development Fund signed an agreement on financing the project "Housing Finance in the Kyrgyz Republic". The amount of the loan agreement is estimated at $100 million, Akchabar.kg reports.
The agreement was signed by Finance of Kyrgyzstan Almaz Baketaev and Executive Director of the Saudi Development Fund Sultan Al-Marshad.
“The money will be used to build multi-storey social housing as part of the My Home 2021-26 program,” the State Mortgage and Mortgage Companies of Kyrgyzstan specified.
The housing program was earlier initiated by the President of Kyrgyzstan, Sadyr Japarov. He offered it to the Saudi Development Fund. In August 2022, the housing project developed by the GIC was submitted to the Arab Coordination Group.
The project was considered for six months, after which the Saudi Development Fund approved the project proposed by Kyrgyzstan.
According to the agreements, the construction of affordable housing will begin in Bishkek and continue in all regions of the country.
CentralasianLIGHT.org
April 25, 2023