The National Bank of Ukraine has unveiled a new initiative designed to enhance housing accessibility through mortgage lending mechanisms.

This has been reported by the NBU press service.

Key objectives within this new initiative include:

• reducing risks through the introduction of comprehensive insurance against military risks and improving construction legislation;
• ensuring a clear and accessible lending system via enhanced government support and information disclosure standards in line with EU regulations;
• strengthening creditor protection through updated procedures for managing non-performing debts.

"Moreover, the further development of mortgage lending will require the creation and implementation of securitization mechanisms and the issuance of covered bonds into Ukrainian legislation," the message states.

The implementation of the measures outlined in the new initiative falls on the National Bank, the government, and the National Securities and Stock Market Commission.

A significant role is also assigned to the Verkhovna Rada, which needs to make necessary amendments to existing legislation.