The population will be provided with housing through mortgage loans

    Social medium 3 May 2024 1524

    The Decree of the President of the Republic of Uzbekistan "On additional measures to improve the mechanisms for allocating mortgage loans and improving the housing conditions of the population in 2024" (UP No. 70 dated 30.04.2024) was adopted.

    According to the Decree, as part of the Program to provide housing to the population through mortgage loans based on market principles (the Program), the following will be implemented:

    • multi-storey residential buildings consisting of 100 thousand apartments will be built in the regions;
    • construction companies will be provided with compensation and guarantees for loans issued on the basis of market principles;
    • "green" housing standards will be introduced into the construction of multi-storey buildings;
    • At least 17 trillion soums will be allocated to finance mortgage loans;
    • mortgage loans in the amount of up to 120 million soums for the construction, reconstruction and repair of individual housing will be allocated to persons included in the Program of lifting out of poverty and in need of better housing conditions;

    The Ministry of Economy and Finance will widely apply mechanisms for refinancing mortgage loans allocated at the expense of banks' own funds, the Ministry of Justice reports.