The Cabinet of Ministers approved the amendments to the Resolution of the Cabinet of Ministers of Ukraine No. 451 of 28 April 2021, prepared by the Ministry of Reintegration of the Temporarily Occupied Territories.

The resolution defines the procedure for preferential mortgage lending to internally displaced persons with funds from the German state development bank KfW.

The changes will increase the efficiency of the housing project for IDPs. It will be implemented by the Ministry of Reintegration of the Temporarily Occupied Territories and the State Fund for Support of Youth Housing Construction with the financial support of the German Government through KfW.

In particular, the draft act provides for:

• The introduction of provisions in the Cabinet of Ministers resolution to increase the funding of the project and extend its implementation period.
• Establishment of a grace period for borrowers whose housing was damaged/destroyed as a result of the armed aggression of the russian federation.

This initiative will allow for the continued provision of affordable concessional loans and will help to address the housing needs of IDPs.