Assessment of the prospects for housing finance sector reform in Kyrgyzstan

The housing sector reform project in Kyrgyzstan is organized around three substantive areas: (1) land privatization and real estate development; (2) privatization of housing and communal services; and (3) housing and construction finance. The first step in the process is to assist Kyrgyz government authorities to develop and implement a comprehensive set of housing sector reform initiatives to establish the legislative foundation for market-based private housing and housing finance markets. At the same time, ICMA is working with private and public entities to identify financially feasible housing systems demonstration projects which will apply market principles of housing construction, finance and marketing. The housing systems demonstration component of the housing sector reform project is an integral part of the overall housing sector policy reform initiative. This report describes the current legal and financial situation in Kyrgyzstan relating to housing finance, the structure of the banking system, the draft reform proposals which have been prepared by ICMA, and the potential for apartment completion and self-help housing systems demonstration projects. (Author abstract)