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Romania’s „First House” Proj To Include 50,000 Dwellings In 4 Yrs – SMEs Min

The "First House" project will be applied for a four-year period and will support the construction of around 50,000 dwellings, the Minister for Small- and Medium-Sized Enterprises Constantin Nita said Tuesday.
Romania’s
26 mai 2009, 18:05, English

"We are currently talking with the central bank BNR and the Romanian Banking Association to find the suitable mechanisms to make this program work. We plan to apply this program for a four-year period (…). We estimate that 16,000 dwellings will be built or bought in the first year, so that 50,000 dwellings to be built in four years," Nita said.
 
He added that the project might be successful if the banks accept lower interests for this program.
 
Romania’s Prime Minister Emil Boc said last week that the loans contracted for the purchase of the first dwelling will be guaranteed by the state within the maximum limit of EUR60,000, the program’s total funds reaching EUR1 billion.
 
The guarantee will be granted to the persons buying their first dwelling who did not previously benefit from a mortgage loan, the Prime Minister stated.