Government Decision will allow Ukrainian Financial Housing Company to Provide Citizens with Housing on the Terms of the Mortgage and Financial Leasing

On September 22, 2021, the Cabinet of Ministers adopted a resolution to increase the authorized capital of Ukrainian Financial Housing Company "Some issues of domestic state loan bonds with the subsequent purchase of shares of additional issue of the private joint-stock company Ukrainian Housing Finance Company", developed by the Ministry of Finance.

The adopted Resolution provides for the possibility of increasing the authorized capital of the Ukrainian Financial Housing Company by UAH 20 billion and subsequently directing these funds to the implementation of programs of housing of citizens in terms of mortgage lending and financial leasing.

20 thousand Ukrainian families who receive wages from the state or local budgets, and internally displaced persons will be able to obtain about 8 thousand mortgage loans for the purchase of housing and 12 thousand apartments on financial leasing terms.

The resolution stipulates that the Ministry of Finance during 2021 carries out:

• purchase into state ownership of the shares of the additional issue of Ukrainian Financial Housing Company for UAH 20 billion in exchange for the domestic government bonds;
• issue of domestic bonds amounting to UAH 20 billion with a maturity of up to 15 years and an interest rate of up to 13% per annum.

The government adopted the resolution "Some issues of domestic state loan bonds with the subsequent purchase of shares of additional issue of the private joint-stock company Ukrainian Housing Finance Company" under the Law of Ukraine "On the State Budget for 2021" and recommendations of the Council on the state participation in the authorized capital of Ukrainian Housing Finance Company. The implementation of the resolution does not require additional budget spendings.