For Immediate Release
Office of the Press Secretary
September 27, 2003

Cooperation in Housing and Urban Development Fact Sheet
U.S.-Russia Cooperation in Housing and Urban Development Fact Sheet

On September 22, 2003, Housing and Urban Development (HUD) Secretary Martinez and Chairman of the State Committee on Construction (Gosstroy), Nicolay Koshman signed a Memorandum of Cooperation. The Memorandum establishes the framework for future joint activities in housing and urban development, particularly affordable housing for lower income families and urban reinvestment strategies.

HUD, focusing on information exchanges, will organize a series of joint conferences and exchanges in policy development, research, and program management studies. The new cooperation will identify ways to strengthen the housing finance system, especially the mortgage markets, and to institute changes in housing construction technology and management operations.

Secretary Martinez will make his first visit to Russia in November to finalize the bilateral work program.

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