Cbank says number of escrow accounts in Russia rises 24% in Mar

MOSCOW, Apr 27 (PRIME) -- The number of escrow accounts in Russia grew by 24% to 77,000 in March, according to the documents seen by PRIME on the website of the central bank on Monday.

"This exceeds monthly growth at the end of last year (about 5,000 accounts)," the authority said.

The amount of funds placed by shared-equity construction project participants on the escrow accounts rose by 25% on the month to 271.4 billion rubles.

Banks signed 1,064 loan agreements with construction companies, the amount of credit lines exceeded 1.2 trillion rubles. The debt of construction companies to banks stood at 413.4 billion rubles.

Construction of 123 projects with escrow account financing was finished in 45 regions, the amount paid to the construction companies and banks to repay the loans exceeded 12.4 billion rubles.

(74.7163 rubles – U.S. $1)

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