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“Lending to condominiums may become one of the key areas of lending development in 2024. In the context of the energy crisis, not only businesses are thinking about energy efficiency, but also the population. Globus Bank, in cooperation with the State Energy Efficiency Fund, has resumed lending to homeowners' cooperatives under the Energodom program,” said Serhiy Mamedov.
The Energodom program allows for a complete energy modernization of a residential building, with up to 70% of the costs being compensated. “But for this, the condominium must carry out the necessary work. We understand that they don't have that kind of money. We provide an unsecured loan with no down payment for a period of five years at 16% per annum,” the banker said.
Cooperation with local authorities allows borrowers to receive “partial interest compensation” from local budgets. “We have already signed an agreement with the Lviv regional administration. An agreement with the Lviv City Administration is in the process of signing. We are planning to sign similar cooperation agreements with local administrations of Rivne, Mykolaiv, Vinnytsia, Ivano-Frankivsk, Odesa, etc.", announced Sergey Mamedov.
The bank plans to sign at least eight cooperation agreements with local authorities on compensation of interest on loans to condominiums. “Therefore, under favorable circumstances, the volume of lending to condominiums may approach the volume of the ‘5-7-9%’ program,” summarized Serhiy Mamedov.
The press service of Globus Bank reported that the bank provided a loan to PARUSNY 7-A, which became the first condominium association in Mykolaiv to receive a loan from Globus Bank under the Energy Efficiency Fund's ENERGODOM program to support the energy modernization of apartment buildings.
“The loan will be used for a set of capital works on thermal insulation of building envelopes, facades and internal engineering systems, including heating. We are confident that this will be an important step in improving the comfort and energy efficiency of your home. We would also like to express our sincere gratitude to the representatives of the Energy Efficiency Fund and the Center for Housing Development in Mykolaiv for their fruitful cooperation and support. Together, we are building a future where our homes use energy efficiently while preserving the environment,” Globus Bank said in a statement.
