Kyrgyzstan to lower state mortgage rate to 6 percent by autumn

Government of Kyrgyzstan will reach the goal on reduction of the state mortgage rate to 6 percent. The Prime Minister Mukhammedkaly Abylgaziev said the day before.
According to him, the President set the task to reduce the state mortgage rates, because it is still difficult for the public sector employees to make payments under the current conditions. The head of the Cabinet noted that since the start of the mortgage program, the Government has allocated more than 4.8 billion soms for its financing. Mortgage interest rates during this time were lowered from 12-14 to 7-9 percent.
"Since May, the State Mortgage Company has begun accepting applications for home loans from all categories of citizens," the statement says.
Recall, the Government decided to allocate 500 million soms to the State Mortgage Company for financing of the mortgage program.