The government launches interest-free loans for housing arrangements for people evacuated due to emergencies

Key points:

• The state is launching a mechanism for interest-free loans for internally displaced persons.
• The maximum amount is up to 50 minimum wages per family, with a repayment period of up to 15 years.
• The state will compensate banks for interest.
• The funds can be used for housing and household needs.
• The procedure for applying and the list of documents will be published by the Ministry of Internal Affairs.

The government is launching a mechanism for interest-free loans for people who are forced to change their place of residence due to emergency situations. This was announced by the Cabinet of Ministers of Ukraine.

According to Ukrainian Prime Minister Yulia Svyrydenko, the programme is designed to help people settle into their new place of residence more quickly and restore domestic stability for families.

The mechanism provides for a one-time interest-free loan of up to 50 minimum wages per family, which is about UAH 430,000.

The repayment period is up to 15 years. The state will compensate banks for the interest on the loan, so the loan will be interest-free for recipients.

The funds can be used for property, household items and equipment necessary to create adequate living conditions in the new home.

To obtain a loan, one of the adult members of the family must submit an application and a certificate of recognition as a victim to the local authority at the place of new residence.

After reviewing the documents and approving the decision, the funds will be transferred by an authorised bank selected through a competitive process.

The Cabinet of Ministers of Ukraine has noted that the Ministry of Internal Affairs will soon publish detailed explanations regarding the application procedure and the list of required documents.

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