EBRD allocated EUR 220,000 for establishment of Housing and Utilities Development Fund in Kazakhstan
15:45, 13 January 2011
ASTANA. January 13. KAZINFORM /Gulnara Zhandagulova/ The European Bank for Reconstruction and Development (EBRD) has allocated EUR 220 thousand for establishment of the Housing and Utilities Development Fund in Kazakhstan. Chairman of the Kazakh Agency of Construction, Housing and Utilities Serik Nokin has said it at the session of the board of the Agency.
"In order to update heating system and repair dwelling houses, to introduce door-to-door registration of heating consumption a financial instrument is needed to let apartment owners raise affordable and long-term loans. Such is the international practice. It is proposed to create the Housing and Utilities Development Fund which will provide apartment owners with loans", S.Nokin said.
"The European Bank for Reconstruction and Development allocated EUR 220,000 and started elaboration of the Concept of such a Fund", he added.