As Adilet Akmatov, a specialist from the Project Implementation Department at the Ministry of Finance, reported on Birinchi Radio, the initial interest rate was 8 percent per annum. Following amendments to the Cabinet of Ministers’ decree, it was reduced to 6 percent.

The maximum loan amount is 1 million soms, with a term of up to five years. Financing is available through ABank, Bakai Bank, and Eldik Bank.

To apply for a loan, homeowners have to first contact an equipment supplier. Specialists will inspect the building, calculate the required capacity of the heating system and prepare a cost estimate. After that, applicants can submit documents to one of the partner banks.

As of early July, 11 loans had been provided under the program for a total amount of 11,490 million soms. A separate credit line is available for equipment suppliers, offering loans of up to 5 million soms at 10 percent annual interest for a period of up to five years.

According to project participants’ estimates, heating a 100-square-meter house with a heat pump can be approximately five times cheaper than using coal. However, actual savings depend on the building’s insulation, electricity costs and equipment specifications.

The program is being implemented within the framework of Improving Air Quality project. At the current stage, it covers Bishkek and nearby areas, where winter smog remains one of the most serious environmental challenges.