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Belarus' government increases accommodation funding in 2017

Belarus' government increases accommodation funding in 2017
Belarus' government increases accommodation funding in 2017
Belarus' government increases accommodation funding in 2017

As many as BYN 50 million more.

Belarusian government allocates extra funds for home loans with state aid.

According to the decision made by the Council of Ministers of the Republic of Belarus, the money will go towards building panel tower-blocks, which must be constructed in 2017.

Those who are in need of improved housing conditions will be able to take loans at interest,

which has been decreased by half of refinancing rate.

The people in need will be determined by executive committees. As many as than 75,000 square meters which will be built with the help of state aid.

Oleg and Olga have been waiting for a place of their own for five years. Both of them are medical workers, Oleg is an endoscopist and Olga is a senior nurse. They were offered to build a flat at work. Moreover,

the family was given a subsidized loan at 5% interest.

Oleg Koptev, endoscopist at Mogilev regional oncological early treatment center:
We are grateful for such a possibility. And with an average salary we have

it is possible for us to pay the loan back.

This ten-storied block of flats was among the last to be finished. As many as 119 families got flats here. Moreover, the issue concerning flats in Belarus will be solved more actively in 2017.

The funding of housing construction has been increased by BYN 50 million.

The authorities will allocate a sustainable amount for home loans for the people in need. This decision was made by Belarus government. The houses built with the help of state aid must be finished in 2017.

A state builder will be responsible for the building process.

Ekaterina Usenkova, chief of housing authority department, the Ministry of Architecture and Construction of the Republic of Belarus:
Our agency has been given a task to make a list of accommodation units in cooperation with executive committees.

The Ministry is undertaking measures to restrain the growth of prices per square meter of accommodation with state support.

Of course, the average price per square meter in such units is BYN 700-800 in average.

Those who are in need of improved housing conditions will be able to take loans at interest,

which has been decreased by half of refinancing rate.

Banks will get compensations for losses on the Republican taxpayers’ dime. According to the Council of Ministers, additional funding will let about 100,00 square meters of state supported housing units be put into service.

Andrei Kobyakov, Prime Minister of the Republic of Belarus:
These are not the final volumes of housing units which will be finished in 2017. A draft decree of the President of the Republic of Belarus is being prepared now and in addition to the current decree No. 3 we’ll offer another mechanism which will make it possible to finance state supported accommodation units.

In this case support won’t be given to banks

so that they could cut the interest rate costs, but to the citizens, who will be building state supported accommodation.

Experts view the situation as positive.

Vadim Tachkin, director of a consulting company:
At the moment it is impossible to cut the interest rates down to 5-6% per annum. However, by implementing such programs,

we set targets which must be thrived for.

Social support has always been one of the main priorities of Belarus’ policy. Eldar, who is from a family with many children, celebrated his first birthday in a new flat. His parents bought the flat at concessionary interest rate. It can be said that

when the family had their fourth child, the government practically gave the three bedroom flat away to them.

Inna Mochalova, a mother with many children:
Now the bank is paying this loan and I guess we are lawful owners of this flat. The support to families with many children is very big.

As many as 100,000 square meters of accommodation units aren’t just numbers. Completely New possibilities for hundreds of Belarusian families are behind them.

In 2017 about two dozens of nine-storied blocks of flats which were built with the state support will be finished.

Belarus' government increases accommodation funding in 2017