At the Government meeting the Minister of National Economy of Kazakhstan Kuandyk Bishimbayev told about main goals and objectives of "Nurly zher" new housing program.

In order to implement the instructions of the Head of State the Ministry works on development of “Nurly zher” housing program. The concept of the program is to transfer from direct financing of housing construction to development of mortgage lending and stimulation of private developers," K.Bishimbayev said.

The Minister noted the main objectives of the program are: to stimulate demand through issuance of mortgage available loans by second-tier banks by subsidizing the interest rate; to offer incentives through granting loans available to developers for housing construction; construction of credit housing to depositors of "Housing Construction Savings Bank" JSC and establishment of a regional fund of rental housing; development of individual housing construction and granting land with reimbursement of expenses for engineering infrastructure.

"Currently, the Ministry holds an active discussion with the interested state bodies, NPP, financial institutions and akimats. Also it is planned to hold wide-ranging discussion with the public, and considering all views to submit adraft program to the Government," K.Bishimbayev said.

Published: 27 September 2016



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