Ukrainian President signs law to improve financial mechanisms for investment in housing construction

Ukrainian President Viktor Yuschenko has signed law No. 692-VI "On amending some legislative acts of Ukraine regarding the improvement of the financial mechanisms for investment in housing construction," the official Web site of the Ukrainian president reported on Monday.

The law was adopted by the Ukraine's parliament on December 18, 2008.

According to the law, the construction financing fund (CFF) can be managed by a financial institution with an authorized capital no less than EUR 1 million fully in cash before the attraction of funds from the CFF.