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Artem Fedorko

Artem Fedorko

Chairman, Bank DOM.RF
SPIEF 2019
Reform of the Construction Industry. Transition to a New Mechanism of Housing Construction
The mechanism of project financing, of escrow accounts was in the first place designed to protect citizens – that was the task set by the President, and this mechanism does this. But the main thing is that this mechanism is functional, favourable for business and for developers. It provides guarantees for project financing. It is lucrative for banks; we can already see that it is one of the major segments of bank crediting. Now around 600 billion roubles from banks are involved in construction, and in the next 3–4 years this figure will reach approximately 7 trillion, which is more than a tenfold growth