Interest rates on preferential housing construction loans in small Belarusian cities are planned to be reduced to 1%

November 26, Minsk / Olga Belyavskaya - BELTA /. Interest rates on preferential loans for housing construction for residents of small Belarusian towns are planned to be reduced from 5% to 1%. This was announced today at a joint meeting of the chambers of the National Assembly by Deputy Prime Minister of Belarus Viktor Bury, BELTA correspondent reports. The Deputy Prime Minister explained that to further stimulate housing construction, the government has prepared and submitted to the head of state for consideration proposals to reduce the fee for the use of preferential loans from 5% to 1% and to increase the repayment period from 20 to 40 years for residents of settlements with a population of up to 50,000 people, as well as such cities as Kobrin, Slutsk, Rechitsa and Svetlogorsk. "A proposal has also been submitted for accelerated preferential lending to state customers before the developer forms the amount up to 50% of the estimated construction cost, with subsequent transfer of debt to citizens," he said. -E-