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ADB to Help Women Access Affordable Housing Finance in Kazakhstan
The Asian Development Bank (ADB) has approved a $100 million local currency equivalent loan to help expand the lending operations of the Housing Construction Savings Bank of Kazakhstan (HSCBK), the main institution implementing government housing finance programs in the country. This will allow more than 3,000 women, particularly in the rural areas, to have access to affordable housing finance.
“Women account for a significant portion of Kazakhstan’s labor force and are a major contributor to the economy, but they still find it difficult to access affordable, long-term, fixed-rate mortgage credit,” said ADB Country Specialist for Kazakhstan Mr. Mirzo Iskandar Gulamov. “ADB, through the loan to HSCBK, is committed to empowering women and increasing their awareness and access to finance, which can help them become more productive.”