Project finance indicators in equity housing construction continued to trend upwards in November, including as a result of government support measures.
As of 1 December 2020, equity construction participants’ funds in escrow accounts exceeded 1.01 trillion rubles, and 78.4 billion rubles under completed construction projects were transferred to developers and used to repay the loans raised by them to construct buildings.
The total limit under effective loan contracts between banks and developers approximates 2.17 trillion rubles. For detailed information on financing in equity construction, refer to the Bank of Russia website.
This news item was originally published by the Central Bank of the Russian Federation (CBR RU). For more information, see the Source Link.