Moldovan government presents final general framework of First Home project

Chisinau, 7 November /MOLDPRES/ - The government has unveiled the general framework of the First Home project, due to be approved by the cabinet this week. The leader of the Moldovan Democratic Party (PDM), Vlad Plahotniuc, today made statements to this effect following PDM’s weekly meeting.       

At a news briefing, the Democrats’ leader said that more completions today had been proposed, due to bring benefits to young people willing to buy a dwelling.

“We have provided political support to this project meant for young people, so that the latter remain at home and not leave abroad. Several concrete solutions were proposed to stimulate young people from certain social categories, so that they can purchase these dwellings by benefiting from certain facilities. Also, we demanded to see whether we can find solutions for the state to compensate for young people a half of the interest paid for the real estate loan,” Vlad Plahotniuc said.   

At the same time, Plahotniuc noted that “the government will approve the general framework of the project, after which solutions will be identified and the completions will be made, which will bring benefits to people, especially for young specialists.”   

Under the project, the young people will initially contribute ten per cent of the dwelling’s cost, with 90 per cent representing the bank loan. The latter will be provided for a 25-year repayment period, with a bank margin not larger than three per cent, to which the interest for the medium-term loans for 6-12 months is added. The value of the dwelling will not exceed one million lei.  

(Reporter A. Ciobanu, editor M. Jantovan)