First Home project proposed for public consultations in Moldova

Chisinau, 31 May /MOLDPRES/ – At the beginning of today Government’s meeting, Prime Minister Pavel Filip outlined the importance of the "First Home" project, proposed for public consultations, the government’s communication and protocol department has reported.

The Prime Minister emphasized the role of this program, including from the perspective of stopping youth migration. "Our analysis makes it clear that young people who go abroad do so mainly because they do not see any prospects of buying a home in Moldova. We have worked out the project to offer this opportunity to them," said Pavel Filip.

On it, the Executive’s head said that the youth would contribute with only 10 per cent of the dwelling cost initially, while 90 per cent being the bank loans. It will be granted for a period of 25 years, with the bank's margin not exceeding 3 per cent, to which will be added the interest rate for 06-12 month average loans. The value of the dwelling will not exceed one million lei.

In order to complete the "First Home" project, the Prime Minister asked the Finance Ministry to consult the broadest concept in society, not only with the Association of Moldovan Banks (ABM), but also with important youth segments, as to identify the elements that can be introduced to improve the project.