Gov't to earmark UAH 1 bn for mortgage lending

The Gov’t of Ukraine is planning to earmark 1 billion hryvnyas for mortgage lending. Prime Minister of Ukraine Yulia Tymoshenko announced on Tuesday, during her meeting with heads of the regional councils, Government portal reported.

According to her, already on Friday, February 27 during a meeting with builders an issue of distribution of funds between the regions is to be tackled: “On Friday we are to determine an order of distribution of all the quotas for unfinished building works. A proportional principle of distribution between the regions will be applied”.

The Premier emphasized credits are to be destined for non-finished construction, the readiness of which equals around 80%. “These mortgage funds will be transferred via the state banks and only to those who are going to buy flats,” the Head of Government emphasized.

Yulia Tymoshenko informed an understanding with the building companies with regards to a minimal cost of such housing had been reached: “We have agreed with the builders about such minimal cost of square meter of accommodation that can not be found anywhere”.

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