In Belarus, conscripts for active military service will be granted a deferral of housing loan repayment

August 2, Minsk / Alina Grishkevich - BELTA/. President of Belarus Alexander Lukashenko signed a decree "On Certain Guarantees for Citizens Undergoing Compulsory Military Service" on August 1, the press service of the head of state informed BELTA.

In accordance with the document, citizens called up for compulsory military service are provided with an additional guarantee in the form of a deferral of repayment (settlement) of a loan obtained for the construction (reconstruction) or acquisition of residential premises, as well as the payment of interest, fees (commissions and other payments) for the use of such a loan.

This deferral will be granted to citizens for the entire period of compulsory military service (conscript service) for both preferential loans and loans issued by banks on a commercial basis. The deferral will cease upon the citizen's discharge from compulsory military service, as well as upon the conclusion of a contract for military service.

The decree provides for compensation from the republican budget for bank losses associated with the deferral. Such compensation will be carried out at the refinancing rate increased by three percent per annum.

The implementation of the decree's provisions will provide effective financial support to citizens who have received a loan for the construction (reconstruction) or acquisition of housing during the period of their military service.

The decree enters into force after its official publication.-0-