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Mikhail Menn reveals troubles with compensation fund for co-funded construction

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Mikhail Menn reveals troubles with compensation fund for co-funded construction

As early as this year, an efficient compensation fund for co-funded construction is scheduled to be created, the Construction, Housing, and Utilities Minister of Russia, Mikhail Menn, told reporters on Monday.


The minister drew attention to the fact that the fund’s organizational and legal structure hasn’t been determined yet. In order to set up the compensation fund, there is a need for amendments to federal law №214. The Russian Construction Ministry’s specialists are busy with the task.

According to the plan, the fund is to start operating from the 1st of January 2017. As a reference, the volume of the compensation fund might be 30-35 bln roubles per year.

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