A total of Hr 1 billion is being allocated by the government to build low-cost apartments, according to Ukrainian Premier Mykola Azarov.
"We agreed that the government with the National Bank of Ukraine [NBU] would draw up a mechanism for the targeted crediting of low-cost apartment construction under credit rates that are lower than those on the market. This year the government is allocating UAH 1 billion for such construction projects," he said opening a cabinet meeting on Wednesday and commenting on the results of a meeting with the representatives of the construction sector on Tuesday.
Azarov said that the cabinet is ready to initiate the allocation of UAH 10 billion to subsidize credit rates next year.
He also said that the Economic Development and Trade Ministry is drafting the Own Apartment state targeted social program on the provision of citizens with apartments between 2011 and 2025.
