Through lectures delivered by mortgage experts from Wharton, the workshop allowed participants to obtain unique knowledge on such topics as housing policy, funding the mortgage portfolio, managing risks, transforming rental markets, and government subsidies in expanding the mortgage market.

"IFC played an active role in developing the legislative basis for mortgage lending. I believe that this workshop is a logical continuation of IFC’s overall efforts in building a primary mortgage market in the region," said Abdurakhman Gafurov, Chairman of Uzbekistan Mortgage Lending Support Fund.

Well-established housing finance systems are a key condition for building housing markets. Many Central Asian countries are in the process of developing legal and regulatory systems, including design of various national programs to extend opportunities for the private housing finance sector and ensure access to high-quality housing for the population.

"This workshop has been a unique opportunity for IFC and the World Bank to help develop the Central Asian and Azerbaijan housing markets. Our experience in this area allowed us to reach both government officials and private sector companies, through this joint training. We will continue to collaborate and help develop the policy environment, the financial instruments, and the implementation capacity," said Loup Brefort, World Bank Country Director for Uzbekistan.