In 2023 it is planned to allocate up to 100 billion tenge for lending under the program.

According to the bank website, the National Bank of the Republic of Kazakhstan will continue to implement the program of mortgage housing lending “7-20-25”.

The National Bank is made this decision, according to the instructions of the President Kassym-Zhomart Tokayev, who set the regulator the task of extending the implementation of the program until 2029, as a part of the execution of the election platform.

In 2023, It is planned to allocate up to 100 billion tenge for lending under the program. The actual amount of annual lending under the program supposedly will depend on the availability and development of market mortgage products of banks.

Certain conditions were revised for the implementation of the program, in order to cover more citizens with concessional lending. In particular case, a participation of one borrower is envisaged in the program no more than once.

The parameters of mortgage housing loans are remaining unchanged, issued under the program:

• rate – 7% per annum;
• down payment – 20%;
• loan term – 25 years;
• the maximum cost of purchased housing: 25 million tenge for the cities – Astana, Almaty and their
• suburban areas, Aktau, Atyrau, Shymkent, 20 million tenge – for Karaganda, Turkestan, 15 million tenge
• for other regions;
• borrower have not to make an insurance of collateral and life.

64,146 concessional loans were issued under the program in the amount of 852.2 billion tenge, on December 22 of this year.

In order to provide working citizens with affordable mortgages the program was launched in 2018.