The Prime Minister of the Russian Federation Dmitry Medvedev following the meeting of the Presidium of the Presidential Council for Strategic Development and National Projects held on January 28 gave a number of instructions to ministries and departments.
In particular, the Ministry of Construction and the Ministry of Finance of the Russian Federation was instructed to provide for the allocation of funds from the budget for additional capitalization of JSC "DOM.RF" and the Fund for the Protection of the Rights of Citizens Participating in Equity Construction. On the basis of DOM.RF, it was also instructed to develop the creation of a special bank in the housing construction sector.
By June 1, 2019, the ministries should develop the implementation of a guarantee mechanism that provides for the provision of guarantees by JSC DOM.RF to banks for loans to developers and financing activities for lending JSC "Bank DOM.RF" projects for the construction of apartment buildings. By the same date, an action plan should be developed to create a special housing construction bank on the basis of Dom.RF Bank.
In addition, the Ministry of Construction, together with the Ministry of Industry and Trade, was instructed to submit proposals to the government in terms of increasing demand housing and non-application of project financing (escrow accounts) to completed housing construction projects.
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