OREANDA-NEWS. April 29, 2009. The Mortgage Lending Agency will issue to banks selected on a tender basis special-purpose loans for building budget housing and mortgage development. This decision was adopted Tuesday at a meeting of the government commission, a business daily reported on Wednesday.

The government commission headed by First Vice PM Igor Shuvalov discussed measures on Tuesday to support housing construction. “Currently as part of the pilot project, the Mortgage Lending Agency provides for issuing RUB 1.2 bn in 1H 2009 to the new construction program.

Based on the results of the pilot project, MLA will determine the parameters for implementing this program”, head of MLA Alexander Semenyaka told the business daily. According to him, MLA will provide banks selected on a tender basis with special-purpose loans, partly from funds of the additional capitalization of the agency worth RUB 20 bn and partly from additional credit resources from the government worth RUB 40 bn.