Belarusian banks to additionally allocate $250m for housing with state support

Belarusian banks to additionally allocate $250m for housing with state support

The number of square meters for Belarusians who qualify for state support during housing construction will increase by one third in 2017.

Preferential lending for such construction will be the business of all banks. On the one hand, this will create favorable conditions for the development of competition, on the other, banks will benefit from participating in a financial mechanism with state guarantees.

Anatoly Kalinin, Deputy Prime Minister of the Republic of Belarus:
There is a source in the banking sector. This is 135 million, plus we add 500 million Belarusian rubles. There is a financial instrument (the model and mechanism will begin working in the near future) in order to involve participants in the construction process in line with decree No 240. This is the main task of the government and the Ministry of Architecture and Construction as a regulator.

Now local authorities will begin work to explain the new conditions of preferential lending during housing construction to potential beneficiaries, Deputy Prime Minister Anatoly Kalinin told reporters today at the opening of the international exhibition Budpragres. About 200 enterprises, including from China, came to Minsk with their new products. The geography of exports of the Belarusian construction industry is growing.

In Belarus' housing construction, 95 percent of construction materials are produced domestically.