State mortgage institution (SMI) will attract $500 million of external borrowings in line of credit at an effective rate of 4.5% per annum to Finance public investment project “Provision of housing in terms of mortgage lending or financial leasing”. The relevant government decree N1008 of 18 December, published in the newspaper Uriadovyi Kurier.
The loan will be provided in tranches according to the approved schedule of financing. The loan term is 15 years with prolongation possibility, coordinate separately.
Financing conditions also suggest a three-year deferred repayment period (grace period) and the repayment of the principal amount 24 equal installments every six months with interest payable every six months. Such funding, like planning a Cabinet will allow you to build 1.44 million square meters of housing (about 30,6 thousand apartments) on the conditions of mortgage lending or financial leasing at a rate of not more than 15.3 per cent per annum.
The project priority is providing housing for participants of the ATO, the military and police, as well as internally displaced persons.