The valuable experience of the “Russian capital” Bank is sure to be taken into account while creating an indemnification fund for joint funding of construction.
The Head of the RF Ministry of Construction, Housing and Utilities, Mikhail Menn, spoke on this in the course of the sitting of the RF State Council in the Kremlin.
He stressed that the mechanism of provision for, and support of, people’s rights in housing construction via an indemnification fund of joint funding construction, as voiced by President Putin, will allow for the efficient solving of the problem of hoodwinked investors. At a later stage, such a fund may become an important tool for project financing in the sphere of housing construction via an authorized bank.
If an indemnification fund is replenished at the cost of the money paid by developers to insurance companies, it is about 1% of each share participation agreement sum. In this case, the joint funding indemnification fund volume may total 30 – 35 bln roubles a year. This money may be provided for long-delayed construction, Mikhail Menn said.