Putin: reduction of rates of housing construction should be not accepted during transition to escrow accounts

18.03.2019

Russian President Vladimir Putin spoke at a plenary session of the congress of the Russian Union of Industrialists and Entrepreneurs and called for preventing a reduction in the rate of housing construction with the transition to escrow accounts.

“We all understand that this is a new instrument for the industry, and we all have to work together so as not to reduce and gradually increase the pace of housing construction,” said the head of state.

Vladimir Putin noted that for the effective development of the industry, taking into account innovations, the mechanisms of interaction between banks and developers should be as transparent as possible.

“The most important thing here is a clear, transparent interaction between banks and companies, creating incentives for banks to lend to the construction site. And of course, the sources for financing the social and engineering infrastructure should be clear”, the President stressed.

Source: Website of the President of Russia

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