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Romanian SMEs Guarantee Fund Grants 30,500 First Home Loan Guarantees Of EUR1.25B

The Romania fund guaranteeing SME loans FNGCIMM granted 30,500 loan guarantees amounting to EUR1.25 billion, since the start of the local First Home program in mid-2009, fund president Aurel Saramet said Thursday.
Romanian SMEs Guarantee Fund Grants 30,500 First Home Loan Guarantees Of EUR1.25B
Ioana Tudor
11 nov. 2010, 20:13, English

The fund guarantees about 80-83% of the loan, which means loans within the First Home program might hit EUR1.7 billion, said Saramet during a seminar organized by the National Bank of Romania (BNR), lender Alpha Bank and the Romanian Banks Association (ARB).

Saramet said the Finance Ministry did not agree with banks’ propositions to amend the First Home program.

He said one of the propositions was to raise the guarantee cap so that banks can grant higher loans.