OREANDA-NEWS. July 28, 2011. National Bank of the Kyrgyz Republic explains that within the framework of “Housing Finance Program” between Kyrgyz Republic and German Development Bank KfW, the Ministry of Finance of Kyrgyz Republic announces a tender for the selection of partner financial institutions for the program participation. The overall goal of the program is to increase and improve, in terms of accessibility and tenor, the supply of the loans intended for housing construction, as well as mortgages, loans for purchase of housing and loans for improvement of housing conditions. This will, in turn, facilitate deepening and widening of Kyrgyz financial market. The overall goal of the program will be achieved through provision of financing for the abovementioned purposes and will allow the citizens of Kyrgyz Republic with medium or lower income to get an access to the loans and improve their housing situation. The loans will be extended by three Partner Financial Institutions which will be selected for the program participation. Partner financial institutions will receive loans in the national currency (Som) on the conditions which will be determined later on. 

Banks and Microfinance Organizations which are registered and carrying out their activities in Kyrgyz Republic are invited for the tender. 

The Selection of the partner financial institutions will be carried out in the form of the tender in two stages:

1. Pre-selection of financial institutions 

2. Final selection is carried out based on the results of a due diligence to be carried out by a consultant. The decision will be made by the tender commission which consists of the representatives of the Ministry of Finance, KfW and the a.m. consultant with international experience. 

Those institutions which are interested in the tender, may contact Altynai Valikhanova, who will provide additional information regarding the program, tender and documents to be submitted. If you have any questions, please feel free to contact Altynai Valikhanova at the following email address: Altynai.valikhanova@kfw.de.

The documents shall be submitted to the Regional KfW Office for Central Asia located in Bishkek, at the address Panfilova street 150, until August 29th, 2011.