ForteBank First to Join New Program of Kazakhstan Housing Company

JSC "ForteBank" was the first to sign a cooperation agreement with JSC "Kazakhstan Housing Company" (a subsidiary of “Baiterek” National Investment Holding) under a new mechanism for conditional financing of comprehensive urban development projects.
Financing will be available for projects that meet comprehensive territorial development requirements, including the construction of housing, educational and medical facilities, public spaces, parking areas, commercial premises, as well as the creation of barrier-free environments. Support will extend to both new comprehensive residential development projects and renovation projects that involve modernization of existing developments and the creation of modern urban environments.
Under the Kazakhstan Housing Company mechanism, it will be able to provide ForteBank funding through a conditional deposit instrument, which will allow the bank to finance projects at a rate not exceeding 12.6% per annum for a period of up to 36 months.
"Signing an agreement with ForteBank is an important milestone in launching the conditional financing mechanism. Our goal is to offer the market a clear and effective financial instrument that will expand developers' opportunities to attract affordable bank financing and enable the implementation of quality comprehensive development projects, including renovation projects," noted Islambek Kairbekov, Deputy Chairman of the Board of JSC "Kazakhstan Housing Company".
"Signing an agreement with Kazakhstan Housing Company expands ForteBank's opportunities to finance comprehensive residential development projects. Thanks to this partnership, we will be able to offer developers more favorable financing terms and support the implementation of projects that contribute to the creation of modern infrastructure and improved quality of urban environments throughout Kazakhstan," emphasized Alma Abilzhanova, Member of the Board – Managing Director of ForteBank.
This cooperation contributes to expanding access to bank financing for the construction industry, increasing the sustainability of comprehensive development projects, and achieving state objectives to provide the population with quality and affordable housing.