The Cabinet endorsed the regulations concerning the implementation of the state program “First house”, which is the last document needed for putting the program into practice, IPN reports.
The approval of the regulations will be followed by technical procedures, such as the signing of contracts of cooperation with the involved banks and drawing up of several standard contracts. The Ministry of Finance aims to implement the measures in the shortest period of time possible. The date from which the citizens can submit applications for loans and the banks that take part in the program will be announced in the nearest future.
The program is designed to help families to purchase the first home in more advantageous lending conditions than those existing on the market. The state guarantees 50% of the raised loan. The annual ceiling of state guarantees and the sums needed for covering these will be set annually. The 2018 state budget includes a guarantee fund of 50 million lei.
The implementation of the program is coordinated by the Organization for the Development of Small and Medium-Sized Enterprises.
