A Ukrainian-Chinese deal foresees the allocation of nearly $18 billion to fulfill in Ukraine an apartment leasing program for Ukrainian citizens with the right to buy out the apartment, Regional Development, Construction, Housing and Utilities Services of Ukraine Hennadiy Temnyk said during the visiting meeting in Kyiv on Tuesday.

"There are agreements with the Chinese to allocate $18 billion to fulfill this program. The construction ministry now is working on [the allocation of] 43 land plots, for which design and estimate documents have already been prepared and utility issues worked out," he said.

According to the minister, in 2014 Ukraine plans to allocate more ten plots: both for the implementation of the programs for affordable housing, as well as for building apartments for leasing with the further right to buy.

As reported, the State Mortgage Institution of Ukraine (SMI) and the profile financial institution of China have signed a memorandum of joint realization of a state program in Ukraine, which will allow citizens to lease apartments with the right to buy at 3% per annum in hryvnias.

"We have information that during a visit of Ukrainian President Viktor Yanukovych to China a memorandum between the SMI and the relevant financial institution of China on the start of the program on general principles was signed," he said, not disclosing other details.

In August 2013, Head of the Public Relations Department of the SMI Hanna Volobuyeva reported that the project of the joint Ukrainian-Chinese program was agreed by all profile ministries. The program needs to be approved by the Cabinet of Ministers.