Tashkent, Uzbekistan (UzDaily.com) -- President Shavkat Mirziyoyev held a meeting on the construction of housing and Yangi Uzbekistan communities this year.

The head of state announced the provision of new opportunities for the population and builders.

This year, 22.5 trillion soums will be allocated to finance mortgages from all sources. Including, almost 10 trillion soums will be allocated for mortgage lending, 2.3 trillion soums will be allocated to cover the down payment and interest for 20 thousand low-income families.

500 billion soums will be allocated to replenish the working capital of contracting organizations with the issuance of preferential loans for up to 18 months with an annual rate of 16 percent and a grace period of 12 months.

Banks will also participate in this process with their funds.

Additional benefits will be created for construction work and the purchase of housing by the population. In particular, contractors with a “satisfactory” rating will now be allowed to construct five-story buildings, and in the case of nine-story buildings – with a “medium-satisfactory” rating. This will allow almost 2 thousand contractors to participate in construction work.

A “green” standard will be introduced in housing construction. Eligible contractors will be provided with a loan at a rate 1 percentage point lower, that is, at 15 percent per annum.

The Entrepreneurship Development Company will allocate 200 billion soums to provide contractors with guarantees for loans and partial compensation of interest costs. The validity of customs benefits for the import of special equipment for housing construction will be extended for another year.

From now on, the requirement to insure mortgage housing transferred as collateral will be abolished.

It was noted that some unscrupulous developers abuse the trust of buyers, and therefore the need to strengthen the system of protection of the population during the construction of housing on a shared basis was emphasized. It has been determined that minimum requirements for the financial stability of construction and contracting organizations participating in land auctions will be established.