Housing Finance in Kyrgyztan
The Kyrgyz financial market is still comparatively underdeveloped and faces many constraints. The majority of loans are extended for short to medium time periods and mainly for business needs. Kyrgyz commercial banks and microfinance institutions have been in particular reluctant to give out long-term funds in local currency for new residential housing (purchase or construction) or for investments in improvement of housing on a massive scale due to lack of longer-term refinancing in local currency and adequate appraisal technologies.