Derzhmolodzhytlo to be transferred to Economy Ministry
The Cabinet of Ministers of Ukraine adopted a protocol decision providing for the preparation of a draft act to designate the Ministry of Economy, Environment, and Agriculture of Ukraine as the governing body of the State Specialized Financial Institution "State Fund for Assistance to Youth Housing Construction." Meanwhile, Derzhmolodzhytlo and Ukrfinzhytlo will continue to operate as separate legal entities and implement their programs under the current terms, the Ministry of Economy's press service reported.
"The state has various tools to support people in purchasing housing, and it's important that they operate within a common framework. Derzhmolodzhytlo has experience implementing targeted housing programs, and Ukrfinzhytlo has experience scaling up affordable mortgages through banks. We want to effectively combine these capabilities and create a foundation for attracting additional funding to the housing sector," explained Deputy Minister of Economy, Environment, and Agriculture Vitaliy Petruk.
The protocol decision also provides for consultations with international financial institutions on joint housing finance projects. The Ministry of Economy will actively collaborate with partners, particularly in implementing their recommendations for developing housing finance instruments in the country.
The State Fund for Assistance to Youth Housing Construction, a specialized state financial institution, implements state and local housing programs, including lending programs for youth, internally displaced persons, and other categories of citizens in need of support in acquiring housing.
PrJSC Ukrainian Financial Housing Company operates the state-run affordable mortgage lending program eOselia. The program, which was launched in October 2022, is being implemented by the Ministry of Economy, the Ministry of Digital Development, the State Agency for Housing and Communicative Communications, and partner banks. The Ministry of Social Policy and the Pension Fund of Ukraine are also involved in implementing the compensation mechanism for IDPs and residents of frontline areas.
