Oshchadbank to buy UAH 30 mln in State Mortgage Institution bonds

Oshchadbank will purchase UAH 30 mln of the State Mortgage Institution’s (SMI) planned UAH 1 bln bond issue as part of the state program to finish the construction of unfinished buildings that are at least 70% completed, Deputy Minister of Regional Development and Construction Anatoliy Tkachuk said yesterday (via Interfax). According to Tkachuk, he also expects commercial banks to buy into the SMI issues. Tkachuk said the Ministry of Regional Construction would begin working, as soon as June 9, with other relevant ministries to determine the first objects to be finished.