For seven months of 2012, the State Fund for Youth Housing has originated 161 soft loans worth 54.5 million UAH for young families, chairman of the State Fund for Youth Housing Leonid Risukhin told a press conference, ForUm correspondent reports.

According to him, fourteen objects have been already put in commission. It is planned to issue 550 soft loans for 30 years at 3% per annum by the end of the year. Besides, if a family has a child, it shall be released from payment of interests and 25% of the loan.

In addition, the Fund serves 8.500 families, who receive compensation from the state budget on lower rates on loans taken from commercial banks.

The expert reminded that in 2012, 196.2 million UAH are to be allocated from the budget for the implementation of the affordable housing programs, so 1.500 families can get subsidies. Currently, 35 million UAH have been already utilized, so 287 families have already received state support.

Risukhin added that a new mortgage program, initiated by the President, will play the principal role in the development of public housing programs this year. So, as of August 14.234 agreements on mortgage cheapening by 55.6 million UAH were signed in 22 regions of Ukraine.

"Organization and legislative support for such an ambitious program is a very laborious process, initiated by the Regional Development Ministry. Now it is almost completed. There is no doubt that the further implementation of the program will go much faster," the expert said.

He emphasized that for 20 years of its work, the Fund has provided 30 thousand of young families with housing, having invested 3.8 billion UAH and built 1.5 million square meters of housing.

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