On February 3, 2016, Rosseti and AHML (Agency for Housing Mortgage Lending) signed an additional agreement to the Memorandum determining the order of the parties’ cooperation when carrying out the Housing for Russian Families Program. On the part of Rosseti, the agreement was signed by Director General Oleg Budargin, while for AHML, it was signed by Director General, Chairman of the Board of Directors Alexander Plutnik.
AHML will provide long-term loans to Rosseti’s subsidiaries as part of the agreement to purchase electric power supply facilities installed by developers as part of the Housing for Russian Families Program.
The AHML mechanism will allow developers to recover their costs of constructing power supply lines. Besides, this work will help to consolidate the power grid assets under the management of Rosseti, as stipulated by the strategy for electric grid complex development, approved by the Government of the Russian Federation.