downpayment

The downpayment of 5% from the loan contracted to buy the first house will be calculated for the EUR60,000 guaranteed by the state, while banks can ask for a higher down payment for the difference of the sum, and the interest will be correlated with EURIBOR (Euro Interbank Offered Rate).

Romania received the first tranche of European Union funds for rural development worth nearly EUR560 million, namely, a 7% downpayment of the total sum assigned until 2013 to fund projects contracted via the National Rural Development Plan (PNDR).