Contributing to Housing and Utility Sector Reform

We also participate in projects aimed at reforming and modernising the housing and utility sector. Housing and utility sector reform is a matter of interest for a significant part of the Russian population. It also bears considerable significance to the country’s socio-economic development. In 2011, the Bank approved a Concept for the Involvement of OJSC Sberbank of Russia in a Project to Modernise and Reform the Housing and Utility Sector. The Concept defines investment priorities for the Bank in this sector for the period 2011-2020.

One of the first steps in implementing the Concept was to sign Cooperation Agreements with the Housing and Utility Sector Reform Foundation — a state corporation — and the governments of the Republic of Bashkortostan, the Krasnoyarsk Territory and the Murmansk and Yaroslavl Regions on the creation of regional systems to carry out major repairs on apartment buildings. The agreements provide for cooperation with the Bank to finance projects aimed at reforming the sector, reducing the number of apartment buildings requiring major repair work, ensuring comfortable living conditions for residents and implementing advanced IT solutions to handle utility payments and provide access to relevant sources of information.

As of the end of 2011, Sberbank was involved in 30 major projects in the housing and utility sector worth a total of RUB 111.6 billion, of which RUB 38.3 billion is financed by the Bank’s loans.

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