Housing Finance Programme

While larger Financial Institutions (FI) in Kyrgyzstan are now experienced with providing housing loans, some of them will need assistance in establishing adequate products for rural customers. Furthermore, Financial Institutions need to build a solid refinancing base in local currency and therefore need to develop and market savings products (including the contract savings product that shall be implemented by State Mortgage Company (SMC)), taking into consideration the peculiarities of the rural areas. Furthermore, FIs will be assisted by the Consultant in implementing and improving their environmental and social standards.

Objective:

Financial Institutions need to build a solid refinancing base in local currency and therefore need to develop and market savings products (including the contract savings product that shall be implemented by SMC) in housing finance area.

Services provided include, but are not limited to:

1. Enhancement of credit origination, servicing and execution (criteria and processes; staff and IT capacity) as well as general and credit risk management capacity based on the results of the due diligence in FI
2. Analysis of loan demand and adjustment of product policies and marketing regarding the specific needs of rural housing finance in FIs is done.
3. Long term refinancing in local currency in FIs is improved.
4. Environmental and Social Policies are improved and implemented in FIs.