Volga | Finance, business

NN Region ok's $28.8m homeowner subsidy

22 Aug '08
Nizhny Novgorod Region has earmarked over $28.8m this year to partially subsidize banking interest rates for loans taken by the region's residents, sources in the regional administration report. This year's appropriation is 63.3% higher than in 2007.

Governor Valery Shantsev said compensations would be distributed among those residents that had taken out loans to buy an apartment, to have their house connected to gas supplying lines, as well as under a current energy-saving program in the public housing and utilities sector and a program of economical housing for young families.
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