The Committee on Finance and Banking recommends that the Parliament adopts the Bill "On Anti-Recessionary Measures to be taken in Housing Development" as a Basis

04 December 2008, 16:23

Mykola Azarov, Committee Chairman, stated that the Bill (Reg. No.3354-1) "was elaborated in order to promote housing development and stabilization of construction sector under the conditions of financial crisis, form actual demand and reduce the cost of housing development".

 

 

 

 

 

The Bill envisages certain preferential terms for the issue of loans for housing development to the property developers by credit and financial institutions. Thus, the subjects of entrepreneurship (property developers) are authorized to postpone compulsory payments and levies to the State and local budgets, especially the pay for land, shares for the development of social, engineering and transport infrastructure, etc.