|Project Name||Kyrgyz Republic Housing Microfinance Advisory Services Project|
|Project Opening Date||2012|
|Project Closing Date||Present|
|Responsible International Financial Institution||International Finance Corporation|
To provide access to finance for home improvements and home extensions to low-income Kyrgyz households.
IFC helps improve housing conditions for low-income Kyrgyz households by introducing to the local financial institutions an innovative housing microfinance lending product, enabling them to provide funding for home improvements to low-income residents.
The housing microfinance product enables low-income Kyrgyz households to obtain funds to conduct home improvements on a self-help basis. To enable borrowers to take these loans, the financial institutions supplement their financial services with Construction Technical Advice (CTA). The Project will develop a set of TCA tools to help lenders develop and introduce the housing microfinance product.
The Project has helped two financial institutions in the Kyrgyz Republic launch the house microfinance product. As part of the product delivery, a number of video and calculation tools for the most demanded types of home improvements have been developed and introduced to final borrowers. To date, about 200 loans have already been disbursed.
|Source of Funding||
|Amount of Funding||N/A|
Open access to finance for home improvements and home extensions to low-income Kyrgyz households.
|Contact Information of International Financial Institution|
|Organization/Department||International Finance Corporation|
|Address||Business Center Orion, 4th floor, 21 Erkindik Boulevard|
|Phone||+996 (312) 626 162|