The President Shavkat Mirziyoyev with his March 13 Decree "On additional measures to expand the scale of construction of affordable housing in Tashkent city for 2017-2021" has established a joint-stock housing construction and savings Poytakht Bank, a statement of the Central Bank said.
The main tasks and areas of activity of Poytakht Bank are as follows:
- mortgage lending and other housing banking services;
- provision of credit resources to contractors building affordable multi-apartment housing;
- acting as a customer in design and construction of affordable multi-apartment housing;
- lending and leasing to contractor organizations carrying out construction and repair of multi-apartment housing in Tashkent;
- attracting of foreign investments, including loans, as well as technical assistance from international financial institutions for financing the construction of affordable housing;
- investment activities, including financing the projects that provide improvement of engineering infrastructure;
- lending to organizations that produce modern, economical, energy-saving and in-demand building materials and equipment;
- provision of other banking services
The authorized capital of Poytaht Bank will amount to at least 10 million euros, taking into account the 3 billion soums from the Tashkent city budget as an initial deposit, and through attracting of funds of legal and physical persons, including foreign investors.