RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of May 1, 2020 No. PP-4701

About additional measures for improvement of housing conditions of the population and further expansion of the market of mortgage lending

For the purpose of improvement of housing conditions of the population, further market development of mortgage lending, broad involvement of private contract organizations to construction of housing and creation for them favorable conditions during counteraction to spread of koronavirusny infection:

1. Take into consideration that according to the Presidential decree of the Republic of Uzbekistan of November 28, 2019 No. UP-5886 "About Additional Measures for Enhancement of Mechanisms of Mortgage Lending" (further - the Decree):

the new procedure for providing the population with housing at the expense of mortgage loans on the basis of the market principles is implemented (further - new procedure);

allocation of mortgage loans on acquisition in the primary market of housing of apartments in the houses built by private contract organizations at the expense of own means and the credits of commercial banks is authorized.

2. Permit to allocate from May 1, 2020 to January 1, 2022 for the period to physical persons mortgage loans on acquisition in the primary market of housing of apartments in the houses built by private contract organizations without condition of "turnkey" delivery (without carrying out finishing works).

3. Increase the maximum sizes of the mortgage loans allocated to one borrower on acquisition in the primary market of housing of apartments in the houses built by private contract organizations without condition of "turnkey" delivery (without carrying out finishing works), and also apartments which construction is complete (except as specified, provided in Item 31 of this resolution):

in the rural zone - for one-room and two-room apartments from 174 million sum to 240 million sum, apartments with three and more rooms from 224 million sum to 320 million sum;

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