KYIV, Nov. 27 (Ukrainian News) – The Cabinet of Ministers has allocated another Hr 30 million to Oshchadbank (Savings Bank) for compensating the deposits made by people in Oshchadbank and Ukrderzhstrakh (Ukrainian State Insurance) prior to 1992, which were devalued as a result of hyperinflation, Oshchadbank’s press service said on Monday.
In its press release, the bank’s press service said that the bank will pay this money to the heirs of elderly people who died in 1997-1999 before receiving compensation.
Oshchadbank reports that so far this year, the government has paid the bank Hr 163.4 million of the Hr 200 million provided for in the 2000 budget law.
The government has sharply increased compensation payments to people who lost the money they saved in Soviet times in the first years of independence, as reported earlier.
Since the adoption of the law on state guarantees for savings, which provided compensation payments for devalued savings, the bank received Hr 30 million in 1997 – 15 percent of the amount provided in the budget, Hr 20 million, or 20 percent, in 1998, and Hr 10 million, or 5 percent, in 1999.
According to the law, this year compensation is being paid only to disabled and elderly people and their heirs.
