President K.Tokayev on development of single-industry towns

A new program of preferential mortgages may appear in Kazakhstan. Head of State Kassym-Jomart Tokayev instructed to create it as part of the national project for the development of regions. According to the president, the down payment should not exceed 10 percent and the interest rate should vary from 2 to 5 percent. This, according to the head of state, will stimulate the voluntary resettlement of citizens to more promising, growing cities in need of specialists. There are 89 cities in Kazakhstan, and about 30 percent of them are single-industry towns, which accommodate 8 percent of the country’s population. They make a significant contribution to the development of the economy and produce about 40 percent of industrial products. Kassym-Jomart Tokayev noted the importance of diversifying their economies and creating new jobs. In addition, the president instructed the government to prepare an analysis for all single-industry cities. It must be completed by March 1, 2022.

Translation by Galiya Khassenkhanova