BAKU, Azerbaijan, August 27. Kazakhstan's
Otbasy Bank, a subsidiary of the Baiterek holding, will begin
accepting applications under the "Umai" housing program, financed
by the Asian Development Bank (ADB), on August 31, 2026, the bank's
press service said.
According to the information, the program, developed based on
ESG principles, aims to expand housing opportunities for women in
Kazakhstan by offering more affordable terms, including a reduced
down payment. Applicants can purchase housing in any city in the
country regardless of their place of registration and are not
restricted by ownership of other real estate.
"We see that the program is really working. During the first
three years, more than 3,600 Kazakhstani women were able to move
into their own homes thanks to the program," Otbasy Bank Chairwoman
Lazzat Ibragimova said.
The ADB provides funding for lending under the "Umai"
program.
The financing will be provided in stages, with the first tranche
of 9 billion tenge ($19.61 million) already transferred to Otbasy
Bank.
Program terms include an interest rate of 14.8% per annum, with
an annual effective interest rate (AEIR) ranging from 16.3% to
16.8%, while the maximum loan amount is set at 50 million tenge
($108,963).
Otbasy Bank and the ADB first launched the "Umai" program in
2021. The ADB allocated 38 billion tenge ($82.81 million) for its
implementation. Over the first three years, the program helped
3,661 Kazakhstani women purchase their own homes.
Dollar equivalents are calculated at the exchange rate of 1 USD
= 474.63 tenge.
