Deputy Prime Minister and Minister of National Economy of Kazakhstan, Nurlan Baybazarov, discussed on March 5th the potential increase in funding for the new mortgage program "Otau".
Baybazarov mentioned that the program was launched on March 1st, with thousands of applications already submitted on the first day. Approvals could be granted as early as May.
Regarding the program's funding, Baybazarov assured that it will continue for many years, with the holding company "Baiterek" planning to support it through their own and external resources. He emphasized the long-term commitment to the program.
The new "Otau" mortgage program in Kazakhstan targets youth and young families, with an annual allocation of 150 billion tenge expected to help around 50,000 Kazakh citizens acquire their own homes.
