The Cabinet of Ministers of Ukraine on August 31 allocated UAH 50 million to the "State Savings Bank" ("Oshchadbank") to compensate for deposits in the Savings Bank of the former USSR that were placed before 1992 and depreciated as a result of hyperinflation. This tranche is the first since the beginning of the current year. As reported in "Oshchadbank," UAH 10 million of the allocated sum will be directed toward making compensation payments in the amount of UAH 50 to depositors who did not receive them in 2002-2005. Another UAH 5 million will be directed toward paying financial assistance in the amount of up to UAH 150 to the heirs of depositors who died in 2003-2004. The remaining UAH 35 million will be directed toward paying financial assistance in the amount of up to UAH 500 to the heirs of depositors who died in 2005-2006. Recall that at the end of July 2006 the Cabinet of Ministers announced its intention to settle obligations for the depreciated deposits of citizens in the Savings Bank of the former USSR by September 1, 2006. According to the resolution "On the payment in 2006 to citizens of Ukraine of compensation for losses from the depreciation of monetary savings and insurance contributions deposited before January 2, 1992 to the institutions of the 'Savings Bank of the USSR' and state insurance of the USSR that operated on the territory of Ukraine" No. 1091 of August 3, 2006, in 2006 "Oshchadbank" will be allocated UAH 600 million to compensate deposits.
Oshchadbank will return 50 million to defrauded depositors
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