Decree on developers subvention will be issued by the end of the year
Russian government is planning on issuance of a decree on compensation of project financing interest rate for developers by the end of the week, Marat Khusnullin, Vice Primier of Russia, said.
“We are elaborating a decree on compensation of interest rate to make developers pay less interest to banks, it will be published this week. All money in construction will go to finishing housing construction. We have clearly defined that we will give to companies that maintain 90% of workplaces”, – Marat Khusnullin announced during the briefing “Measures on provision of continuous functioning of construction field in the context of coronavirus spread”.
The decree is being elaborated as part of the implementation of the Presidential instruction on measures for construction field support.