"Construction will become a growth engine that will pull other sectors of the economy along with it"

Vladimir Putin held a meeting on measures to support the construction industry. In his closing remarks, the Russian President gave the following instructions to the Government:

1. To launch a preferential mortgage program, under which the mortgage for new comfort housing at a price of up to 3.5 million in the regions will be 6.5% for the entire term of the loan. It will be possible to apply for such a mortgage until November 1, 2020. About 60 billion rubles will be allocated for the program.;
2. To work out a set of measures in the form of preferential loan rates that will help save jobs for construction companies. The condition for receiving benefits should be the companies' obligations to complete and commission the facilities this and next year. About 12 billion rubles will be allocated for the program.;
3. To recapitalize the Fund for the Protection of Shareholders' Rights by 30 billion rubles;
4. To provide the state corporation Dom.rf in the amount of 50 billion rubles;
5. To continue the implementation of major infrastructure projects, to increase advances up to 50% in infrastructure construction;
6. Regions should develop special programs for building safety during the pandemic;
7. To consider the possibility of reallocating expenditures on national programs for the construction of roads and the resettlement of dilapidated housing.