Government of Ukraine made public the results of the implementation of the “eOselya” subsidized mortgage lending program, which, in addition to providing citizens with affordable housing, is an important tool for economic recovery. According to calculations, every hryvnia invested in “eOsel” brings the state 2.6 hryvnias of investment.
The First Deputy Prime Minister — Minister of Economy Yuliya Svyridenko spoke about the initiative’s achievements during the First Affordable Mortgage Forum.
YeOselya is one of the most popular programs of the “Made in Ukraine” policy. Thanks to it, in 9 months of 2024, the production of construction products increased by 23% compared to 2023. eOselya has almost the largest multiplier effect among all “Made in Ukraine” programs — every hryvnia invested in the program returns 2.6 hryvnias of investment. We can see that “eOselya” also influenced the detinization of the market, because if a developer wants to work in the program, he should work only in “white”, Yuliya Svyridenko noted.
She emphasized the special relevance of the program against the background of large-scale destruction of the housing stock due to the war. According to the RDNA report, 13% of residential buildings nationwide were damaged or destroyed, with an estimated $83.7 billion in damages. More than 2.5 million households were affected by the destruction.
We will remind you that the National Bank of Ukraine initiated a deep reform of the state mortgage program. Instead of direct state lending, it is proposed to introduce a mechanism for compensating part of the interest rates. As Kateryna Rozhkova, the first deputy head of the NBU, noted, this will make the program more flexible, closer to market conditions and more effective in the long term.
