Tashkent hosted a press conference devoted to further expansion of the scale of housing construction on model projects and on improving the system of mortgage loans.

More than 15,000 similar homes were built in more than 620 villages tracts during 2009-2011 in Uzbekistan. The improved projects envisage the construction of new 8,500 houses this year. 535.4 billion soums will be allocated in soft loans to the owners of these new houses. The money will be given at the expense of the credit line of Asian Development Bank and from centralized funds of the Ministry of Finance of Uzbekistan.

Starting from this year, the grace period for the mortgage loans to the population is extended to one year. The interest rate was set at seven percent per annum, - says the head of Qishloq Qurilish Bank, Bobokhonov Babajanov. - In order to prevent unreasonable price increase for housing, and to ensure quality construction at the expense of bank assets in the Republic of Karakalpakstan and in the regions some modern enterprises were put into operation. They produce 240 million pieces of bricks per year, 2.1 million square meters of roofing materials, and process 220,000 square meters of timber. (Source: Uzbekistan Today newspaper)