ADB approves $30 million loan to boost Uzbekistan’s mortgage market

A new initiative by the Asian Development Bank (ADB) aims to create an efficient and competitive mortgage lending market in Uzbekistan, the bank says.

ADB has approved a loan of up to $30 million in national currency to support the development of Uzbekistan’s mortgage sector. The funding will expand inclusive financing for green home renovations and housing loans, improve living conditions, and enhance energy efficiency across the country.

This project marks ADB’s first private (non-sovereign) financing transaction with the Uzbekistan Mortgage Refinancing Company (UMRC). The initiative will help UMRC transition from state funding to more sustainable market-based financing, fostering a more competitive and functional mortgage lending market.