The Cabinet will allocate 103.3 million hryvnia for compensation of interest rates on mortgage loans

Cabinet Asks Rada to allocate 103 339 000 hryvnia state specialized financial institutions assist State Fund Youth Building for the partial compensation of interest rate commercial bank loans to young families for construction and purchase of housing in 2011. This is stated in the bill number 7000 on the State Budget of Ukraine for 2011. According to the explanatory note to the bill, these funds will enable the State to comply with obligations under the Payment of the interest rate of loans to 10.755 thousand borrowers. In addition, the government proposes to parliament to allocate 20 million hryvnia to provide favorable long-term government loans for young families and single young people in the construction, renovation and purchase of housing in 2011. Cabinet also proposes to allocate 60 million hryvnia from the special fund of the state budget for concessional lending to individual rural property developers in 2011. As previously reported, the Fund for the construction of the youth asked the Cabinet to provide in 2011, 0.2 billion hryvnia in housing lending. Source: Korrespondent.net