Government and UFHC are working together to attract additional funding for the ‘yeOselia’ mortgage program through investments from international financial institutions. During a meeting between Yuliia Svyrydenko, First Vice Prime Minister of Ukraine and Minister of Economy of Ukraine, and Ievgen Metsger, Chairman of Management Board at UFHC, they discussed new ideas and projects that could be useful for expanding the affordable mortgage program.
“Government, with the help of international financial organizations and international donors from around the world, is trying to raise funds and help citizens solve the problem of partially destroyed housing. For this purpose, two programs have been introduced – ‘yeVidnovlennya’ and ‘yeOselia’ – which will work together,” emphasized Yuliia Svyrydenko.
According to her, UFHC aims to achieve a significant multiplier effect on the economy and the market. “A developed and transparent housing construction industry means new jobs, payment of taxes, new production chains and absence of any fraud or corruption. At the same time, we are constantly striving to improve the mechanisms of affordable mortgages. Therefore, we call on the World Bank experts to diagnose the existing mechanism for providing affordable mortgages and prepare proposals for its improvement. We also propose to join the development of new products between UFHC and the World Bank Group,” the First Vice Prime Minister said.
In his turn, Ievgen Metsger, Chairman of Management Board at UFHC, emphasized that our company is constantly working with international organizations to expand opportunities and find mutually beneficial cooperation formats. “The meeting with the World Bank representatives was very productive. We see great potential for cooperation and will look for the most effective formats for this. I am convinced that in the future we may come up with new interesting products and solutions that will strengthen both UFHC and the Ukrainian economy as a whole,” he said.
The plans are not only to restore partially destroyed housing, but also to develop a sustainable long-term mortgage mechanism that would allow citizens to purchase affordable housing.
The government has proposed that the World Bank consider providing additional funding in the form of guarantees to the Ukrainian Financial Housing Company to obtain liquidity in the domestic market from international banks operating in Ukraine or to finance an increase in the company’s charter capital.
