Tashkent, Uzbekistan (UzDaily.com) — The Mortgage Refinancing Company of Uzbekistan (KRI) expects to receive a financial package of €30 million from the French Development Agency (AFD). This was reported by the Ministry of Energy.

The cooperation agreement was reached during President Shavkat Mirziyoyev’s visit to France in March of this year. The funds will be directed toward projects for the "green" renovation of residential housing and improving energy efficiency in the construction sector.

The financing will be provided in the form of a credit line and a grant. KRI will organize the distribution of these resources among commercial banks, which will, in turn, issue loans to end consumers.

The project is currently in the evaluation and preparation phase. Technical support is being provided by consultants with the participation of the consulting firms AETS and Juru. As part of the preparation, a survey on energy efficiency awareness is being conducted, available in Uzbek, Russian, and English.

In addition, AETS is analyzing the activities of KRI and its readiness to implement specialized credit products. Based on the results of this analysis, proposals for financial instruments funded by the AFD line will be developed.

Earlier, in April, KRI signed an agreement with the Asian Development Bank to attract $30 million for the development of the inclusive and "green" mortgage segment, including support for women’s loans.