DUSHANBE, July 19, Asia-Plus — Tajikistan has not yet been ready for development of mortgage market, Tajikistan’s housing market survey conducted by International Finance Corporation during one year says.
The survey was conducted within the framework of the “Development of Primary Mortgage Market in Central Asia” Project implemented by IFC since 2005 under financial support of the State Secretariat for Economic Affairs of Switzerland (SECO).
On Tuesday July 18, Ms. Elena Klepikova, Manager of IFC Technical Assistance Programs for Housing Finance in Russia and Central Asia, telling the survey-presenting ceremony noted that it was necessary to enhance legislative foundation of formation and development of housing finance system in Tajikistan, creation of infrastructure of mortgage market and development of its [infrastructure] potential, improvement of national housing policy, etc.
According to Ms. Klepikova, the survey has shown that there is no national state support for development of mortgage market in Tajikistan.
The housing finance survey project documents demand and identifies gaps in current housing finance system in Tajikistan. It is studying conditions and possibilities of development of primary mortgage market in the country. This study supposes providing technical assistance to Tajikistan’s government in working out a complex approach to creation of infrastructure, including legislation, necessary for development of the housing finance system and creation of conditions for drumming financial resources in this sector. The data will be used to create action plans for improving the affordability and availability of housing funds for middle and lower income households and, where feasible, generate business viability plans for primary and secondary mortgage finance companies in the country.
