The Asian Development Bank (ADB) has approved a 90 billion tenge loan, equivalent to $173.6 million, to Otbasy Bank JSC to expand access to affordable housing finance for women and introduce green mortgage products for low- to moderate-income households in Kazakhstan. Announced in Astana on 1 April 2026, the initiative is aimed at improving housing affordability while also promoting more sustainable and energy-efficient homes across the country.
The Promoting Inclusive and Green Housing Finance Project will provide residential mortgage financing to more than 2,000 eligible households, with women borrowers receiving priority. In addition to direct financing, the project will support the creation of a green mortgage finance framework that can be adopted more widely across Kazakhstan’s banking sector. This is expected to encourage both the construction and financing of affordable homes that are more energy efficient and environmentally sustainable.
ADB noted that the project builds on its earlier partnership with Otbasy Bank under the Umai Program, which demonstrated how affordable mortgage access can improve women’s economic opportunities and quality of life. By adding green mortgage products, the new initiative seeks to reduce household energy costs while advancing sustainable housing solutions. This is particularly important in Kazakhstan, where women make up more than half of the population but earn about 25% less than men on average, limiting their access to housing finance.
The project also responds to Kazakhstan’s broader housing and climate challenges. More than 80% of the country’s housing stock is considered energy intensive, making green mortgage products especially relevant for improving energy efficiency and lowering long-term living costs. To strengthen implementation, ADB has also approved $500,000 in technical assistance, co-financed equally with Otbasy Bank, to enhance the bank’s ability to assess and manage climate risks and integrate environmental, social, and governance risk management practices into its housing finance operations.
Kazakhstan has been a member of ADB since 1994, and the bank has committed more than $8 billion in loans, grants, and technical assistance to support the country’s development in areas such as public sector management, transport, finance, and energy. Through this latest project, ADB continues its broader mission of promoting inclusive, resilient, and sustainable growth across Asia and the Pacific by combining financial support with long-term institutional and environmental reforms.
