MOSCOW, December 24. /TASS/. The Hectare and The Far Eastern and Arctic Mortgage programs create a sustainable environment to develop the territories and improve life quality in the Far East and the Arctic, Minister for Development of the Far East and Arctic Alexey Chekunkov told TASS.

"The Hectare and preferential Mortgage programs act as a single set of measures, creating a sustainable environment for the development of territories and improving life quality in the Far East and the Arctic," the minister said.

The joint implementation of those programs creates a new category of entrepreneurs-landowners, stimulates the formation of an affordable housing market, supports the construction industry growth and ensures real changes in lives of hundreds of thousands of families, he added.

"The Far Eastern and Arctic Mortgage program continues to expand. Since 2025, in line with instructions from the Russian president, we have expanded the range of recipients: the preferential rate is available to participants of the Zemsky (attracted to work in rural areas) Worker of Culture project, families with a third child born after January 1, 2024, as well as to all employees of educational organizations. Additionally, we have introduced an option to purchase housing on the secondary market in settlements where there is no new construction, which significantly increases the tool's flexibility and the involvement of regions," the minister said.

The Far Eastern Mortgage program was launched in December 2019, and the Arctic Mortgage - in December 2023. The program offers an option for a housing loan at a rate of 2% per annum.