The state was allowed to BORROW it all was bonaberdis"... - news on real estate, Kiev, Kyiv region. Real Estate In Ukraine

The state was allowed to BORROW it all was bonaberdisThe main part of the loan will be directed on financing of the program of construction...The Pitmen will take money for social housingDeputies of the Donetsk city Council July 18, decided to issue bonds of a municipal loan of 75 million UAH., although the Ministry of Finance has allowed the city to borrow 80 million USD. Funds will be spent mainly on capital construction and purchase of passenger transport and the development of housing. Local MPs have allowed the municipality to borrow a maximum at 16% per annum.According to the Deputy mayor, head of the city's financial management Victor Moiseenko, the main part of the loan will be directed on financing of the program of construction of social housing waiting list "Each district — home", launched last year. According to its developers, in each of the nine administrative districts of Donetsk are planned with the use of energy saving technologies at least one 40-apartment house. The first two such objects (in Budyonnovsk and Kuibyshev districts), as promised by the mayor Alexander Lukyanchenko, will be commissioned by the end of this summer. Officials do not exclude that the number of houses built under this program may be great, but with a precise volume of construction, and hence the necessary funding in the municipality has not yet decided. City officials say they may rise before the apartments in them will pass to the waiting list, will be used for accomodation youth Euro 2009 and Euro 2012. From the municipal loan to Finance the program, according to preliminary data, will go to 37.8 million. Another 6.4 million. it is supposed to allocate for the construction of water mains in neighborhoods where there are new buildings and 10 million USD. — on reconstruction of urban sanitation.According to Mr. Lukyanchenko, 15 million. will purchase the high-capacity buses. The rest of the money will be spent on the construction of a sports complex on the street Communist in the proletarian district and reconstruction of the stadium of Donetsk football club "Maxi" in the Kalinin district (6.7 million UAH.), as well as improvement of the Park of culture and leisure. Shcherbakov (4 mln.). However, due to the fact that deputies of the city Council, by its decision, has reduced the estimated amount of municipal loan of 5 million UAH planned figures will have to adjust downward.The debt is expected to go from the local budget. As reported by "DS" in the financial management of the municipality, the city three times already issued municipal bonds. In 2004 three years was borrowed 20 million USD. with a yield of 14%, in 2005 — UAH 45 million. for five years at 11,75% and in 2006 — for the same term 50 million USD.

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