Moldovan cabinet approves regulation on implementing First Home state programme

Chisinau, 22 February /MOLDPRES/ - The cabinet of ministers today approved a secondary normative framework which ensures the implementation of the First Home governmental programme, the government’s communication and protocol department has reported.   

The regulation establishes criteria of eligibility for beneficiaries, for dwellings which can be bought and for the commercial banks from Moldova involved in the programme. Also, the regulation describes in detail the procedure of providing mortgage loans through the programme, as well as the way the state guarantee is provided and fulfilled.  

In the context, Prime Minister Pavel Filip said that this was the last step for the programme’s enforcement and thanked all those who contributed to the working out of the normative framework for its implementation. At the same time, the PM asked the institutions in charge to finish the still necessary procedures as soon as possible.    

The approval of the regulation will be followed by certain technical procedures, such as the signing of trilateral cooperation contracts with the banks and elaboration of several typed contracts. The Finance Ministry is set to carry out these actions in an as short period as possible. The date starting from which citizens can submit applications on crediting and the banks participating in the programme will be announced subsequently.   

The programme was worked out to help young people purchase the first dwelling on more advantageous conditions of crediting, with the state guaranteeing 50 per cent of the loan provided. The annual ceiling of state guarantees and the sum of financial means meant for their fulfillment will be set yearly. For 2018, a guarantee fund worth 50 million lei is provided for in the state budget.    

The programme’s implementation will be carried out through the Organization for Small and Medium Enterprises Sector Development.