The Asian Development Bank has approved a loan to Uzbekistan in the amount of $150 million to expand loans for green renovation. With this. at the same time, funding from commercial lenders is increasing to continue providing affordable home loans.
This loan will supplement the financing of the Mortgage Refinancing Company under the Program for the Development of the Mortgage Market Sector in Uzbekistan, Uznews.uz reports.
“A safe and comfortable home is a basic human right, and we are pleased that we helped increase the availability of mortgage loans in Uzbekistan. We are also pleased that this program will help homeowners improve the energy efficiency of their homes and contribute to climate change mitigation,” said Evgeny Zhukov, ADB Director General for Central and West Asia.
With ADB support, the Mortgage Refinance Company will develop and implement a set of green renovation lending tools.
The loan will also help develop financing mechanisms to stimulate market-based mortgage finance in Uzbekistan, expand the availability of residential mortgage products, including green finance, and introduce innovative products to the banking sector.
СentralasuanLIGHT.org,
Nov. 9, 2022