The European Bank for Reconstruction and Development (EBRD) is expanding its support for Uzbekistan’s housing sector with a new $50 million financing package for the Mortgage Refinancing Company of Uzbekistan (UzMRC).
The funding will help strengthen the country’s residential mortgage market by providing medium-term local currency financing and supporting the development of a more sustainable and inclusive housing finance system.
The investment is expected to improve access to affordable mortgage loans, encourage private sector participation, and help financial institutions adopt more consistent lending standards. By supporting UzMRC, the EBRD aims to promote a stronger market-based mortgage ecosystem with improved risk management and more efficient financing practices.
A key part of the initiative is increasing access to housing finance for underserved groups. At least 20% of the project funds are expected to support mortgage lending for women, helping expand opportunities for property ownership and financial inclusion.
Established in 2019 with support from the Uzbek government and local banks, UzMRC serves as a secondary mortgage institution that provides long-term funding to commercial banks. Its role is to support mortgage market development rather than provide subsidized loans.
The EBRD’s latest investment builds on its long-term partnership with Uzbekistan. The bank has committed nearly $6.9 billion to more than 200 projects in the country, with significant support directed toward private sector growth and economic development.
The new financing reflects continued efforts to improve financial access, strengthen housing markets, and support inclusive economic progress in Uzbekistan.
