Support The Moscow Times!

Residents of Russia's Kuril Islands to Receive Interest-Free Housing Loans

In an attempt to solve the housing problem on Russia’s far eastern Kuril Islands, the region’s government is offering residents interest-free loans to purchase or build housing, the TASS news agency reported Monday, citing the governor of the Sakhalin region, Oleg Kozhemyako.

"The zero-percent loans will be provided through the Sakhalin Mortgage Agency," Kozhemyako said, adding that residents can decide if they want to live in an apartment building or build their own house. "In the second case, local officials will be obliged to provide land."

Kozhemyako announced that 173 families had already applied for apartments that will be built in the near future on Iturup island. Today, more than 12 percent of Iturup’s apartment buildings are deemed uninhabitable. 

About 1.1 billion rubles ($17 million) will be allocated from Russia’s federal budget this year in order to build new houses. 

Russia has launched a new program aimed at the social and economic development of the Kuril Islands — a subject of a decades-long territorial dispute between Russia and Japan. The program will be completed by 2025.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more