Source Pravda.Ru

St. Petersburg To Allocate $64M For Mortgage Program

St. Petersburg will spend 1.92 billion rubles ($64 million) over the next decade to develop a mortgage-lending program. According to Governor Vladimir Yakovlev's press office, this amount has been included in the law On Developing Long-Term Housing Lending in St. Petersburg, which Yakovlev recently signed. The program will provide financial assistance to those who are currently waiting to receive city housing by providing them 10-year mortgages if they are able to make a down payment of no more than 50 percent of the cost of the apartment. Some program funding would also be used to subsidize interest rates for loans provided by other organizations. The program is designed to provide such assistance to 18,000 local families in the period from 2002 to 2012, the St. Petersburg Times wrote.

Several years ago, a prominent Indonesian businessman who now resides in Canada, insisted on meeting me in a back room of one of Jakarta's posh restaurants. An avid reader of mine, he 'had something urgent to tell me', after finding out that our paths were going to be crossing in this destroyed and hopelessly polluted Indonesian capital.

Capitalism reduced Indonesian cities to infested carcases

Presidential candidate Ksenia Sobchak, who was accredited for the press conference by Vladimir Putin from Dozhd (Rain) television channel, asked Putin about competition at the coming election

Putin to Sobchak: We will never let them turn Russia into another Ukraine
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