State Housing Resources Fund under Tatarstan President has gathered in the Kazan Kremlin

A number of major issues concerning the Tatarstan social mortgage programme were under consideration at the meeting of the Board of trustees of the nonprofit organization 'The State Housing Resources Fund under the RT President' that took place on June 4 in the Kazan Kremlin.

"The fund is successfully implementing the republic's social mortgage programme that helps low-income and middle-income families get their own flat," the Tatarstan President said opening the meeting. He also said that as much as 709,000 sq m of housing, or more than 11,000 flats, will be commissioned within the framework of the social mortgage programme in the republic in 2008.

"Owing to the efforts of the RT Government and the State Housing Resources Fund, the latter receives voluntary contributions. This year, investment in social hosing construction will make 15 bln rubles. This example is unparalleled for Russian regions," the head of the republic marked.

The President drew the attention of the gathering that unlike in the USA that has been experiencing the mortgage crisis, Tatarstan is not expected to come over such negative phenomena. We are optimistic as we have adopted a different mortgage mechanism: Tatarstan's mortgage system receives financial inflows and therefore arrears of separate citizens cannot significantly affect the programme.

"In connection with Kazan's hosting the Universiade 2013 questions like 'How will it affect the social mortgage?' have already arisen. And there are people who feel like stirring it up. I say officially that preparation for and hosting the Universiade will not tell on the social mortgage programme in any way," the President emphasized.