ADB Approves $173 Million Loan to Support Green and Inclusive Housing in Kazakhstan
The Asian Development Bank has approved a loan of 90 billion tenge (US$173.6 million) to Otbasy Bank to expand access to affordable housing finance for women and introduce green mortgage products for low- and middle-income households across Kazakhstan, according to the bank’s press service.
The project is expected to provide residential mortgage financing to more than 2,000 eligible households, with priority given to women borrowers. It will also support the development of a green mortgage framework that could be replicated across Kazakhstan’s banking sector, encouraging the construction and financing of more affordable, energy-efficient housing.
Despite women accounting for more than half of Kazakhstan’s population, they earn on average around 25% less than men, limiting access to housing finance and underscoring the need for targeted, long-term solutions. At the same time, over 80% of the country’s housing stock remains energy-intensive, highlighting the importance of green mortgage products in improving both energy efficiency and affordability.
Utsav Kumar noted that the bank’s partnership with Otbasy Bank under the Umai program demonstrates how access to affordable mortgages can expand economic opportunities for women.
In addition to the loan, ADB has approved $500,000 in technical assistance, co-financed with Otbasy Bank, to strengthen the bank’s capacity to assess and manage climate risks and integrate environmental, social, and governance (ESG) standards into its housing finance operations.
Kazakhstan joined ADB in 1994. Since then, the bank has committed more than $8 billion in loans, grants, and technical assistance to support development across key sectors, including public sector management, transport, finance, and energy.
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