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March 5, 2021

‘First House’ Programme, to be extended for Romanians living abroad

The ‘First Home’ Programme will be extended for the Romanians living abroad, according to a draft government resolution, the Public Finance Ministry (MFP) informs on Monday.
According to the draft law, a ceiling will be established for guaranteeing the purchase or building of a home by the Romanian citizens living abroad, who have a stay and work permit, released by the authorities of the state where they work. Until December 31, 2014, the ceiling to be granted exclusively for purchasing or building homes for Romanians living abroad stands at 25 million lei, earmarked from the ceiling remained unassigned or unused devoted to ANL, which became general guarantee ceiling within the ‘First Home’ programme. ‘It is a proposal that came from practice, through which we want to support the Romanians working abroad to purchase or build a home. At the same time, the measure will contribute to a more efficient administration and to an increase in the level of usage of the guarantee portfolio within the ‘First Home’ Programme, believes Public Finance Minister Ioana-Maria Petrescu. The ‘First Home’ Programme has been implemented since the second half of 2009. Until present, a number of 123,922 guarantees were granted, out of which about 31 percent are devoted to the purchase of homes built between 2008 and 2013. The average value of the funding accessed within the programme stands at 38,210 euros.

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