Uzbekistan: Housing for Integrated Rural Development Investment Program—Tranches 1, 2, and 3

Abstract

1. In August 2011, the Asian Development Bank (ADB) approved a multitranche financing facility (MFF) to Uzbekistan for the Housing for Integrated Rural Development Investment Program. The MFF program aimed to support the government’s rural housing scheme (RHS) by providing loans to moderate and low-income households. It also aimed to build capacity to strengthen implementation of the RHS. The RHS was designed to improve rural living standards and diversify rural livelihoods. 2. The program is a three-tranche $500-million MFF, providing a series of financial intermediary loans to help participating commercial banks (PCBs) provide mortgages to selected beneficiaries for the purchase of new homes. Tranche 1 ($200 million) financed 8,363 house purchases in 2012 and 1,916 houses in 2013, tranche 2 ($200 million) financed 9,626 houses in 2014, and tranche 3 ($100 million) financed 2,929 houses in 2015.