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Romania To Guarantee Homeowner Loans For Thermal Rehabilitation

Loans contracted by homeowners or homeowners’ associations to thermally rehabilitate apartment buildings will be guaranteed by the state via the guarantee fund for small and medium-sized enterprises, according to a draft law drawn up by the Romanian Regional Development and Tourism Ministry.
Romania To Guarantee Homeowner Loans For Thermal Rehabilitation
27 mai 2010, 17:07, English

The law targets to ease homeowners’ access to loans for their homes’ thermal rehabilitation.

Mid-April this year, Development and Tourism Minister Elena Udrea said the Government was seeking alternative solutions to speed up the thermal rehabilitation of apartment buildings. She added that one of the solutions analyzed was to provide state guarantees to homeowners’ associations which are interested in taking part in the thermal rehabilitation program, but have no funds to this end.

Early May this year, Udrea said she plans to introduce a new thermal rehabilitation program, whereby the Government will guarantee the loans contracted by homeowners for their homes’ thermal rehabilitation. Udrea stressed at the time that „everybody was displeased” with the existing program, whereby thermal rehabilitation costs are 50% covered by the state, 30% by local authorities and 20% by homeowners.

The annual guarantee threshold, the conditions attached to state guarantees, the eligibility criteria for beneficiaries, banks and constructors, as well as management rules, are all established through the methodological norms needed to enforce the law, as drawn up by the Finance and Regional Development Ministries and approved through government decision within 60 days upon enforcing the law.