Affordable housing for the population is always a relevant issue in Kazakhstan. That is why members of the Senate Committee on Finance and Budget held a meeting on the development of Kazakhstan’s housing policy with concerned government agencies and representatives of Otbasy Bank.
According to the Chairperson of the Senate Committee Olga Perepechina, the Government developed policy documents, supported by substantial financial resources, aimed at solving problems related to provision of affordable housing for the population. In this regard, the senators keep the housing policy reform under special control.
“Otbasy Bank is expected to become a full-fledged development and support institution in 2021, which will perform centralized accounting and distribution of housing by income according to the ladder of housing affordability,” Olga Perepechina said.
The Chairperson of the Otbasy Bank Management Board Lyazzat Ibragimova spoke about the updated functionality of the bank, its main tasks and loans that they provide to the population. According to her, the bank’s task is to provide the population with access to the system of housing construction savings and preferential banking services to improve housing conditions.
Vice Minister of Industry and Infrastructure Development Kairbek Uskenbayev told about additional housing construction promotion measures. Such measures include conclusion of off-take contracts with developers for purchase of housing, introduction of a project financing mechanism for private developers, provision of subsidies for part of the employer’s costs for construction of housing in the countryside, and etc. In addition, the Ministry made a proposal to extend the list of purposes for which Kazakhstani people can use their pension savings. This refers to the repayment of budget loans under the social support program for specialists moving to villages, loans provided by the employer to employees for purchase of housing, and for other specific purposes.
During the meeting, the senators took a close look at the state of play in the housing construction, as well as its new development areas.
(Senate Press Service, 74-72-27. Photo by: E. Ukibayev)
