Tashkent, Uzbekistan (UzDaily.com) -- The President of Uzbekistan Shavkat Mirziyoyev signed a decree, which envisages the tasks of expanding mortgage lending mechanisms, allocating subsidies to people in need of improving housing conditions, as well as the wide involvement of private contractors in the field of housing construction

According to the document, it is allowed the allocation of mortgage loans at the expense of the Ministry of Finance, including for the purchase of one-room apartments and apartments without division into rooms in houses built by private contractors.

This envisages the payment of subsidies to citizens from the State budget for mortgage loans allocated for the purchase of one-room apartments.

As part of the targets for the payment of subsidies in 2020, as an exception, the deadline for citizens to submit applications for receiving subsidies for mortgage loans is extended: from 1 October to 31 December 2020 and the term for the payment of subsidies: from 31 December 2020 to 1 July 2021.

Taking into account the high demand for housing in densely populated regions, it is envisaged to allocate additional 2,085 subsidies this year in Andijan, Namangan, Samarkand and Ferghana regions.

If the total income of the recipient of the subsidy, taking into account his income, the income of his parents, spouse and children, is less than the established criteria for receiving a subsidy, it is allowed to include the income of other individuals.

When a citizen purchases an apartment, the cost of which exceeds the cost specified in the notification of the allocation of a subsidy, the maximum amount of a mortgage loan allocated for the acquisition of this apartment is determined in accordance with the presidential decree No. 4701.

At the same time, a part of the cost of the purchased apartment, which exceeds the maximum amount of the mortgage loan, is paid by the borrower at the expense of his own funds and other sources not prohibited by law, including subsidies from the state budget in cities, allocated to compensate for expenses associated with the payment of a part of the initial payment.

“The tasks stipulated in the presidential decree are a logical continuation of practical measures aimed at mitigating the consequences of the pandemic. Their implementation helps to increase the effectiveness of measures to expand mortgage lending, provide targeted support to people in need of better housing conditions, and widespread involvement of private contractors in the housing construction sector,” the Ministry of Finance said.