9 july 2010

Russian defence companies should provide incentives for young specialists by offering them soft mortgages – Deputy Prime Minister Sergei Ivanov

Participants:

Deputy Prime Minister Sergei Ivanov spoke at the ceremony to present young specialists at the Radio Engineering Corporation Vega with keys to new apartments in the town of Odintsovo near Moscow. Twenty-three employees received 10-year mortgages on favourable terms, at 10% interest, with monthly payments ranging between 15,000 roubles and 25,000 roubles.

At the ceremony, Deputy Prime Minister Ivanov stated that Russian defence companies should provide incentives for young specialists by offering them soft mortgages. "This is a very good pilot project and I think that it will be continued at the Vega corporation and at other Russian defence companies," said the deputy prime minister.

The Vega corporation develops and manufactures air and space radar systems. The company bought out 52 apartments in Odintsovo from Housing Capital as part of its own housing programme for young employees. Half of the apartments were provided to young specialists, and the rest will remain the company's property and will be used as temporary accommodation for employees.