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Thursday, September 19, 2019

National Bank of Ukraine will not fund housing projects

Stepan Kubiv, the governor of the National Bank of Ukraine, told young parents at a rally on Thursday that he would hold firm in the bank's decision to not fund any housing projects.

Kubiv cited the current economic and political challenges as reasons for its suspension of all capital projects.

"The country is currently facing political and economic challenges, requiring us to stick to a tight budget and cut spending," Kubiv said. "The National Bank is currently operating on a tight budget and has suspended all capital projects. It is not funding any housing projects."

He also informed residents that commercial real estate developers had failed to meet their obligations to build a childcare center.

"We are to meet the municipal authorities to work out joint measures to be taken to determine the future fate of this site so that it will be used for the benefit of the local community and in order to create favorable living conditions for Kyivans and their children," Kubiv said.

He said there was no local area development plan for the Teremky-2 residential district, which includes an area of land currently owned by the NBU.