MOSCOW, October 22 (RAPSI) — Another 14.5 billion rubles ($200 million at the current exchange rate) are to be allocated to compensate mortgage loan payments of large families. The respective order has been signed by Russia’s Prime Minister Mikhail Mishustin.
This measure is an element of a program that helps families with three or more children to pay off their mortgage in whole or in part. Such families are eligible for payments up to 450,000 rubles ($6,300), which can be used to cover a loan for the purchase of an apartment, a private house or a land plot for individual construction.
The program covers families where the third child was born after January 1, 2019. The government noted that the age of older children does not affect the decision to provide support. To receive a payment, the eligible persons need to contact the bank that issued the mortgage loan. Taking into account the newly signed order, the funding for the program this year will exceed 68 billion rubles (about $1 billion). The adopted decision will make it possible to additionally support more than 32,000 large families.