Master Refinancing Agreement was signed with Xalq Bank

Master Refinencing Agreement was signed between “Uzbekistan Mortgage Refinancing Company” and Xalq Bank of Uzbekistan on 26 March 2021. Our Company is successfully expanding its activities and the list of partner banks has been replenished with one of the largest state-owned banks in the country - Xalq Bank. This is a great achievement for us and people of Uzbekistan, since it is the largest bank not only in terms of assets or branch network, but also for its well-established retail lending, the level of customer service and structural changes that have been taking place in the bank since 2020. For instance, in 2020 alone, Xalq Bank issued mortgage loans for UZS 388 billion, which provided housing for 4,000 families throughout Uzbekistan. The bank has invaluable experience in mortgage lending, actively participates in many government programs for the development of the mortgage market and firmly established its name as a truly people's bank of the country.

The Company's financial resources will be used to provide mortgage loans to the population for the purchase of affordable housing in the primary and secondary markets, as well as for the repair of existing housing.