Extra KZT 1 bln allocated for Almaty youth housing program

55 mortgage loans will be provided by the year-end as part of the Almaty zhastary (Almaty youth) housing program, Kazinform News Agency quotes finance department head Kanat Sukhambekov as saying.

An extra 965 million tenge will be allocated from the budget to fund the Almaty youth housing program and to provide an additional 55 mortage loans for young people engaged in social, law enforcement, public utility and other sectors.

This year 11,104 people applied for the Almaty youth easy-term housing loans program so far.

The maximum loan amount is 18 million tenge with the first installment of 10%. The mortgage will paid over 25 years.