The State Mortgage Company plans to give out about 2,000 apartments in 2016. Deputy chairwoman of the State Mortgage Company Gulnara Nurkulova announced today at a meeting of the Parliamentary Committee on Budget and Finance.
Her statement was made in connection with claims of the deputies that the creation of such a huge structure like SMC is unnecessary. "In fact, you are engaged in a compilation of the lists, and credits are still issued by the banks, funds are disbursed by the government and the Russian-Kyrgyz Development Fund. So why do we need this company with employees who monthly receive about 70,000 soms?" MPs from Respublika - Ata Jurt said in indignation.
However, Gulnara Nurkulova explained that companies like SMC have been created in many countries of the world. "Our goal is not only to help the banks in the preparation of future loan recipients' lists, but also the development of mortgage instruments in the country. In particular, we are working on a mechanism of mortgage bonds. In addition, we cooperate with consultants of the German Foundation and the World Bank," she said.
Therewith, the deputy head of SMC pointed out that the percentage difference (when SMC receives funds from the government at 5 percent and transmits them to the State Bank for the issuance to the population at 12 percent) is not a goal in itself. "This entire margin - 5 percent - goes to the bank (other 2 percent is the reserve fund - note of 24.kg news agency), and even not all the banks agree to these terms. In an informal conversation, some of them refused to work with us, because it is unprofitable," Gulnara Nurkulova concluded.