The European Bank for Reconstruction and Development (EBRD) has strengthened its partnership with the Mortgage Refinancing Company of Uzbekistan (UzMRC) by providing a US$50 million loan to support the growth of the country’s residential mortgage market and improve access to housing finance.
The financing, which will be disbursed in synthetic local currency, is designed to help UzMRC secure medium-term funding and expand its role in developing a more efficient, market-based mortgage ecosystem. The initiative aims to improve mortgage availability, encourage private-sector participation, and promote standardized lending practices across the financial sector.
UzMRC, Uzbekistan’s only mortgage refinancing institution, works with commercial banks by providing long-term funding backed by eligible residential mortgage portfolios. The new EBRD funding will help strengthen mortgage market infrastructure, enhance risk management practices, and support sustainable growth in housing finance.
A key feature of the project is its focus on inclusive lending. At least 20 percent of the loan funds are expected to support mortgage financing for women, helping increase access to homeownership and expanding financial opportunities for female borrowers.
The investment is expected to contribute to the development of a more competitive and accessible housing finance market while supporting broader economic modernization efforts in Uzbekistan. By encouraging market-based lending and improving access to affordable mortgages, the project will help meet growing demand for housing and strengthen the country’s financial sector.
Founded in 2019 and supervised by the Central Bank of Uzbekistan, UzMRC plays a central role in refinancing residential mortgages and supporting long-term housing finance across the country.
The latest agreement further reinforces the EBRD’s commitment to Uzbekistan, where it has invested nearly US$6.9 billion across more than 210 projects, making the country one of the bank’s largest investment destinations in Central Asia.
