EBRD approved a single-tranche synthetic-soum loan equivalent to US$40m for Uzbekistan’s Mortgage Refinancing Company, with at least 15% allocated to green renovation.
EBRD approved a senior loan equivalent to US$40m for the Mortgage Refinancing Company of Uzbekistan. The single-tranche facility is disbursed in synthetic Uzbek soum, reducing currency mismatch for local-currency mortgage refinancing.
Proceeds refinance eligible retail-mortgage portfolios originated by private and state banks, and at least 15% is allocated to green home-renovation loans. The facility supports a shift from government resources towards market-based mortgage funding.
The project also supports capital-markets legislation for bonds and securitisation. Its significance lies in term funding and market infrastructure; analysis should follow participating-bank eligibility, asset quality, hedging economics, green allocation and legal execution.
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