Kazakhstan to allocate $74.2M for Nurly Zher program

Business Materials 19 February 2019 11:33 (UTC +04:00)

Baku, Azerbaijan, Feb. 19

By Rashid Shirinov – Trend:

Kazakhstan will allocate 28 billion tenge in 2019 under the state program Nurly Zher, said the Industry and Infrastructure Development Minister Zhenis Kassymbek, Trend reports via Kazakh media.

"There are about 1.3 million depositors with the amount of savings of 660.6 billion tenge under the House Construction Savings Bank system. These depositors are potential participants of the Nurly Zher state program, who intend to improve housing conditions through state support measures," the minister said at a government meeting.

He noted that 64,700 depositors have sufficient savings in the amount of 195.9 billion tenge.

"Last year, House Construction Savings Bank issued 38,300 loans worth 360 billion tenge, which is 48 percent higher than in 2017," Kassymbek added.

The minister also noted that the savings system of House Construction Savings Bank is one of the most acceptable tools for obtaining housing. He said that within the framework of the Nurly Zher program it is envisaged to allocate 120 billion tenge for lending to depositors during 5 years (2017-2021).

It should be noted that the Nurly Zher housing construction program was approved in December 2016. In June 2018, it was approved again as a state program.

The goal of Nurly Zher is to increase the availability of housing for the population of Kazakhstan. The program aims to provide housing for 1.5 million families within 15 years.

(376.26 KZT = 1 USD on Feb. 19)


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