390 billion tenge will be allocated for the implementation of the Nurly Zher State Program

In order to increase the efficiency of implementing the state’s policy on providing housing and to maintain the current volume of construction, by the order of the Head of State dated February 3, 2020 No. 20-588, the Government approved a proposal to additionally allocate 390 billion tenge for the implementation of the Nurly Zher state program.

As part of this instruction, on April 9 of the current year, the National Bank of the Republic of Kazakhstan, through a subsidiary of Kazakhstan Sustainability Fund JSC, acquired bonds of Baiterek NMH JSC for a total amount of 180 billion tenge (under conditions: at 4% per annum for a period of 2 years).

For the accelerated implementation of projects, akimats were given the right to issue bonds without agreeing on debt limits, as well as a special regime for public procurement (Decree of April 22, 2011 No. 235 “On Amending the Decree of the Government of the Republic of Kazakhstan dated March 20, 2020 No. 126“ On Measures on the implementation of the Decree of the President of the Republic of Kazakhstan dated March 16, 2020 No. 287 “On further measures to stabilize the economy”).

Today, local executive bodies issued and Baiterek Development JSC bought back bonds worth 180 billion tenge (100%) to finance the construction of affordable credit housing as part of the Shagyrak pilot project.

According to the results of the pilot project, it is expected to build 872 thousand square meters. meters of credit housing or 15,214 apartments (138 projects have been launched).

As the Head of State K.K. Tokaev at the final meeting of the State Commission for Emergency Situations on May 11 this year, a new project for providing credit housing “5-10-20” will be launched.

To maintain the solvent demand of citizens and lending to the participants of the Shagyrak pilot project, Baiterek NMH JSC allocates ZhSSBK 210 billion tenge as part of a bond loan received from the National Bank of the Republic of Kazakhstan.

Participants in the Shagyrak pilot project can be citizens registered with those in need of housing in accordance with the Law of the Republic of Kazakhstan “On Housing Relations” (hereinafter referred to as the waiting list of the MIE).

Basic requirements for participants:

1) citizenship of the Republic of Kazakhstan;

2) the presence of income from labor and (or) entrepreneurial activity (excluding pension contributions, individual income tax and other mandatory contributions) for the last 6 (six) months for each family member up to 3.1 times the subsistence level inclusive, approved by law about the republican budget for the corresponding financial year;

3) confirmation of the registration and registration certificate of the registration in need of housing and status in need of housing in accordance with the Law of the Republic of Kazakhstan “On Housing Relations”;

4) confirmation of solvency.

The ZHSSK has the right to determine the confirmation of the registration of the waiting list of the MIO for the registration of people in need of housing and the availability of the corresponding status through integration with the Unified National Information System of Queuing.

The implementation period of the pilot project “Shagyrak”: 2020-2022.

Lending terms:

– the purpose of the loan is to purchase housing in the primary market (including in housing projects secured by a guarantee of a subsidiary of Baiterek NMH JSC, MIO credit housing);

– nominal interest rate of 5% per annum;

– loan term up to 20 years;

– the presence of an initial payment on the account in ZHSSBK:

for preliminary housing loans in the amount of at least 10% of the loan amount;

for interim housing loans in the amount determined by the Law of the Republic of Kazakhstan dated December 7, 2000 “On Housing Construction Savings in the Republic of Kazakhstan”.

– collateral – acquired housing or other property that meets the requirements of the ZHSSBK;

maximum loan amount:

for private developers, no more than 18 million tenge for the cities of Nur-Sultan, Almaty and their suburban areas, no more than 15 million tenge for the cities of Atyrau, Aktau, Aktobe, Shymkent, Turkestan and the Karaganda region, for other regions no more than 12 million tenge;

for credit housing MIO is determined by the marginal value of 1 sq. km. m, provided for in subsection 5.1.2. State programs “Nurly zher”.

MIO provides ZHSSBK information about the project in progress at least 3 months before the planned date of commissioning.

The procedure, conditions for the sale and distribution of credit housing for MIOs through the ZhSSBK to the waiting list using a point system and a pointless system will be determined in accordance with the Nurly Zher State Program, the agreement between the MIO and ZhSSBK and internal documents of ZhSSBK.

The measures taken will provide housing for needy citizens and have a positive effect on economic development, ensuring entrepreneurial activity and creating about 15 thousand jobs.

All funds are refundable.

The introduction of this mechanism will provide housing for about 18 thousand more citizens.

Ministry of Industry and Infrastructure Development of the Republic of Kazakhstan