Nazarbayev announced the launch of a new housing program "7-20-25"

President of Kazakhstan Nursultan Nazarbayev announced the launch of a new housing program "7-20-25" for the people of Kazakhstan.

"We need mechanisms to provide cheap resources, when every worker can buy an apartment on credit. I propose to launch a program called "7-20-25 ", that is, every working Kazakhstani will have an opportunity to get a mortgage loan in tenge under the following terms: the interest rate on the loan is not more than 7% per year, not the present 14-16%, and the loan repayment period should not be 10-15, but 25 years in order to reduce the monthly payments for the people," the President instructed.

He recalled that in 2017 a record 11.2 million square meters of housing were put into operation. But these volumes are not enough.

Recall, today, the President announced five new social initiatives, which in the near future need to be implemented in the country.

“The Qazaq Times”