OREANDA-NEWS. On March 19, 2009 President Alexander Lukashenko signed into action Decree No 131 ‘On Introducing Amendments and Additions to Decree No 185 of the President of the Republic of Belarus of 14 April 2000’, reported the Official website http://president.gov.by.

At present, preferential loans for construction of residential houses are provided to building societies only after credit lines are opened for each individual member of such a society. This situation leads to considerable delays in financing of such construction projects; it also causes financial difficulties to contractors; and if a contractor does not have enough circulating assets, it leads to delays in construction.

In order to speed up the financing of construction of residential houses and make sure that more houses are built in the country, the Decree provides for allowing building societies, which act as clients, to have preferential loans issued to them for the purpose of construction (refurbishment) of residential houses before the signing of loan agreements with each individual member of such a society.

Afterwards, the preferential loans that have been issued this way shall be re-issued for individual citizens on the conditions stipulated in Presidential Decree No 185 of 14 April 2000.

No additional budget funds are required for implementing the provisions of Presidential Decree No 131.