Uzbekistan: ADB Loans to Help Improve Access to Housing Finance
The Asian Development Bank (ADB) has approved $200 million in loans that will help the Government of Uzbekistan reform its housing finance programs and provide families with more affordable mortgage products, ADB’s Country Office in Uzbekistan said.
Under the Mortgage Market Sector Development Program, ADB will provide a $50 million policy-based loan for reforms to help make the government’s housing subsidy system more efficient. ADB will also provide a $150 million financial intermediation loan to enable domestic commercial banks to provide residential mortgage and housing improvement loans. ADB has supported the gradual evolution of the country’s housing sector and mortgage market through two rural housing programs.