ADB to allocate $150 million to Uzbekistan for mortgages and green finance

The Asian Development Bank (ADB) has approved a $150 million loan that will help expand green renovation loans in Uzbekistan while boosting the funding available to commercial lenders in the country to continue providing affordable home loans, Kabar reports.

In Uzbekistan, green renovation loans can be used to upgrade or install heating and cooling systems, install solar panels, improve waterproofing – improve energy efficiency.

According to the program of the Asian Development Bank, at least 32.5 percent of loans should be provided to women. The loan will help develop financing mechanisms to stimulate market mortgage finance in Uzbekistan, expand the availability of residential mortgage products, including green finance, and introduce innovative products to the banking sector.