KZT 130 bln allocated for mortgage credits - National Bank

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ALMATY. KAZINFORM - Fulfilling the instructions given by the President of Kazakhstan at the enlarged sitting of the Government of Kazakhstan on February 11, the National Bank jointly with the Government of Kazakhstan made a decision about allocation of 130 bln tenge for resolution of the issues in the mortgage lending sphere, the press service of the National Bank of Kazakhstan informs.

Nur Otan Party and the administration of Almaty took an active part in preparation of the decision. "It is necessary to get rid of bad credits and solve the issue of restructuring of debts of mortgage credits. However, it should regard only those who really need it," N. Nazarbayev said at the sitting on February 11.

The allocated funds do not mean writing-off of debts of borrowers. They will be directed for alleviation of the service conditions of mortgage credits. Development of the mechanisms of the issues resolution, defining the main criteria will be done by the National Bank jointly with the state bodies, "Association of financial experts of Kazakhstan", banks and non-governmental organizations.

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