The Regional Development, Construction, Housing and Utilities Economy Ministry will present an initiative on the provision of UAH 1 billion for the program on beneficial youth housing crediting and affordable housing 30% to 70%, the conditions of which are being revised by the ministry, Deputy Minister Roman Abramovsky said at a press conference in Kyiv on Thursday.

"We really hope that the programs will be financed every year in the sum of up to UAH 500 million – both youth housing crediting and affordable housing," he said.

Abramovsky hopes to agree the new conditions for these two programs before possible amendments to the 2015 national budget are made to have financing this year.

He said that the ministry is mulling the increase of the partial compensation of credit rates from 3% to 10% for the youth crediting program and the compensation of 30% of the principal of the credit.

The ministry plans to adapt the 30% to 70% affordable housing program, foreseeing compensation of up to 50% of the cost of the credit for aniterrorist operation ( ATO) participants and displaced persons compared to 30% of compensation used today.

The ministry sent a request to the Finance Ministry to provide UAH 2.6 billion, taking into account the funding shortfall in the previous years.

On May 28, 2015, the ministry said that the government supported the initiatives on suspending the signing of new agreements as a part of the realization of the state program on partial compensation of credit rates of commercial banks to young families and single young citizens for construction (reconstruction) and acquisition of apartments or houses.