BAKU, Azerbaijan, December 20. The finances allocated for the youth housing program “Alatau youth” (Алатау жастары) in Kazakhstan’s Almaty region will reach 3.6 billion Kazakh tenge (nearly $7.7 million), Trend reports with reference to Kazakh media.
Previously, only 600 million Kazakh tenge ($1.28 million) were allotted for the program.
The head of the Almaty region, Marat Sultangaziyev, estimates that allocated funds would be sufficient for the purchase of 200 flats. He added that the municipality already received 1,374 applications.
The project will enable residents of the region under the age of 35 to receive soft loans to purchase their own housing. Successful applicants can receive a loan with favorable repayment conditions of up to 10 million Kazakh tenge (approximately $21,300).