SRO supported developers during the pandemic period

30.11.2020

Self-regulatory organizations of the construction industry in Moscow have issued loans to their members totaling about 30 million rubles, said the head of the Department of Urban Development Policy of the city Sergey Levkin.

“In a difficult macroeconomic situation caused by the spread of coronavirus infection, SRO loans have helped the industry to stay afloat. This money was used to pay salaries to employees of construction organizations and to purchase building materials, ” Sergei Levkin said.

The head of the department recalled that the SRO had the opportunity to provide loans to its members in 2020.

“This is a big step in the development of the self-regulation system as a whole, since SROs now not only defend the interests of construction organizations, but also provide them with financial support,” he added.

Sergey Levkin also identified a number of problems that hinder the use of financial support measures. Among them are strict requirements for borrowers, difficulties in interacting with banks and the risks of SROs arising in the event of default on loans. In addition, members of self-regulatory organizations, according to Lyovkin, drew the attention of the authorities to the tight deadlines for the application of loans and advocated their extension after December 31, 2020.

“Members of Moscow and Russian SROs during two online conferences that took place at the end of November expressed their readiness to submit their proposals for adjusting the Decree of the Government of the Russian Federation of June 27, 2020 No. 938, which regulates the procedure for granting loans to construction companies,” Sergey Levkin explained.

Source: Department of Urban Development Policy of Moscow

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