"Government approved decisions on additional assistance to the citizens with mortgages. The idea is that we need a system of state guarantees to be provided through the Agency for Housing Mortgage Lending".
The unification of the three agencies into a single state system of cadastre registration would take two years, he said, however, “the main structural changes will be made during the first year”.
"Our (Russia and Argentina) economic relations are making steady headway. In the last four years, our trade has increased five times over to reach $1.5 billion. We are developing traditional directions of cooperation, and creating new opportunities."
The discussion centred on the merger between MDM Bank and URSA Bank, MDM Bank’s operation in the real economy sector, and Government decisions on mortgages, notably the decision to guarantee mortgages through the Agency for Housing Mortgage Lending.
The two officials discussed the VTB Group’s performance, in particular lending to the defence industry, the auto industry, the airline industry, housing construction, the ferrous and nonferrous metals sector, retail trade, agricultural engineering and power generation.
Mr Zubkov said in the wake of the meeting that the price and amount of Turkmen natural gas supplies for 2009 would be determined along the way, adding that Russia and Turkmenistan had a long-term agreement stipulating amounts and the price formula.
The two officials discussed current developments in the region, particularly in local farming, construction and mining.