Local authorities will compensate part of the mortgage for certain categories – ‘yeOselia’ expands partnership 

Recently, a meeting on joint regional development programs was held under the chairmanship of Deputy Minister of Economy of Ukraine Nadiya Bihun. Representatives of UFHC and local authorities discussed the existing programs of partial compensation of mortgage loans under the state program ‘yeOselia’ and the prospects for creating new ones.  

Andrii Tarasenko, Director of the Department for Development of Partnership Projects and Alternative Products at UFHC, spoke about the opportunities and benefits of additional compensation under ‘yeOselia’ and emphasized the importance of such initiatives for local communities. “Such programs are primarily aimed at regional development: they stimulate the development of the construction industry, create new jobs and tax revenues to local budgets. In addition, assistance in resolving the housing issue will motivate both local professionals and those who were forced to move as a result of the war to stay in the region,” he said.  

‘yeOselia’ loan compensation programs are already operating in three regions: 

• Zakarpattia Regional Military Administration: program of interest rate compensation on loans for the purchase of housing for servicemen of the Armed Forces of Ukraine (under contract); 

• Mykolaiv Regional Military Administration: a program of partial reimbursement of mortgage loans for servicemen of the Armed Forces of Ukraine who were held captive by russia as a result of countering russia’s armed aggression against Ukraine; 

• Chernivtsi Regional Military Administration: a program to compensate part of the interest rate on mortgage loans to military and security personnel, war veterans and combatants, persons with war-related disabilities and internally displaced persons in Chernivtsi region. 

To implement the compensation program in their region, local authorities should contact ‘yeOselia’ partner banks. Compensation of interest, down payment or loan from local governments and employers is provided for in the Terms and Conditions of ‘yeOselia’ program, approved by the Resolution of the Cabinet of Ministers No. 856 of 02.08.2022.