The Ministry of Regional Development and Construction initiated discussions on the formation of a mortgage loan guarantee fund in order to help the people to purchase and built homes and to ensure the completion of the mortgage process, Info-Prim Neo reports, quoting a communiqué from the Ministry. The goal of such a move is to ensure the people’s access to the lending system and to improve its quality by creating optimal conditions for increasing the size of loans, reducing the interest rate and the advance, and creating a mortgage loan guarantee system. The subject was discussed in a meeting of representatives of the Ministry of Finance, the Ministry of Economy, the National Bank and the Employers Federation of Builders, Road Workers and Producers of Construction Materials “Condrumat”. “It is important to create a credible mechanism in Moldova, which would make the people confident that they will be able to repay the loan for the home in 5, 10 or 15 years and that the state supports them and creates possibilities for them in their country. We must set clear objectives, strict rules and tough conditions for all the players involved so that the interest rate does not scare the people, while the lending conditions are accessible,” said Minister of Construction Marcel Raducan, who chaired the meeting. The minister asked submitting relevant proposals for stimulating the creation of the fund as soon as possible.