Kazakhstan's Rural Housing Crisis: MP Demands Action from Otbasy Bank

Kazakhstan MP Criticizes Otbasy Bank's Inefficient Rural Housing Program Kazakhstan faces a significant housing disparity between urban and rural areas. A recent video highlights a statement by MP Erlan Sairov, who criticized the Otbasy Bank's performance in providing mortgage services to rural communities. Sairov noted that only 20% of new housing construction in 2024 occurred in rural areas. He stated, "The inaccessibility of Otbasy Bank's mortgage products and a lack of information are the main reasons." Sairov highlighted the failure of the 'Asyl Mekken' pilot program, despite its initial allocation of 2 billion tenge. He called for the program's expansion and the introduction of 5% interest rate mortgages for rural residents, along with increased government collaboration with local authorities to improve access to these services. Sairov's concerns underscore the need for improved government policies and bank services to address the housing crisis in Kazakhstan's rural regions. The government's response to these criticisms will be crucial in ensuring equitable access to housing across the country.