Authorized representatives of Ukrainian government and representative of Chinese company CITIC Construction, a subsidiary of China State Investment Corporation CITIC Limited signed a memorandum on USD 15 billion loan for development of affordable housing projects in Ukraine. According to the memo Chinese credit institutions will provide Ukraine with USD 15 million loan at minimum interest rates, for a period of fifteen years, with possible extension.
Press service of the Ministry of Regional Development of Ukraine says, that the memo presupposes development of the state housing politics, affordable housing construction, forming of the fund of social housing, deployment of youth housing, lending to individual rural developers, implementation of infrastructure projects. Herein CITIC is considered as a general contractor - customer of the project implementation, while the Ministry will deal with preparation and realization of the project.