Romanian Govt Guarantees Homeowner Loans For Thermal Rehabilitation

Development and Tourism Minister Elena Udrea said the loan can be contracted for a five-year period.

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.