Development of project technical report for the ‘Affordable Housing Project in Kyrgyz Republic’

AHI and its partners developed a comprehensive project feasibility assessment and technical report to fulfil the IsDB’s impact requirements associated with funding the Kyrgyz Government’s ‘My Home 2021-26’ program. This included undertaking all necessary due-diligence and analysis to prepare a robust affordable housing project, the key components of which are:

1. Construction of Affordable Housing Units: This component entails construction of around 1500+ affordable units. The land plots will be provided by the Government for construction of housing. These houses will be leased to the population at pre-determined rates as per the Government housing program using Islamic Finance modalities and rent-to-own tenure.
2. Line of Financing for Affordable Mortgage Finance: This component involves provision of mortgage finance to lower-middle income population for the construction of houses. The line of financing will be extended to the State Mortgage Company (SMC) and then distributed through Islamic Finance windows of the identified local partner banks.
3. Capacity building for SMC and key implementing agencies: This component entails capacity building activities such as training on affordable housing policies and programs, training on Islamic mortgage finance products, and development of affordable green and sustainable housing.

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