Government spokesperson, Dan Suciu, said the program is a “very successful project”, and will include next year RON1.3 billion new funds and RON200 million coming from loan reimbursements.
Since the launch of the program back in 2009, the national guarantee fund granted around 166,200 guarantees for loans, totaling RON13.9 billion.
This year, Romania’s national guarantee fund for SMEs (FNGCIMM) granted 30,070 guarantees under the First Home program, totaling RON2.5 billion.
Finance Minister Anca Dragu said at the beginning of December that the guarantee ceiling for the First Home program will be reduced to RON1.5 billion in 2016. She also said that loans will be granted under updated cost conditions.
The decision also sets that guarantees can also be issued next year from the funds that were not allotted from this year’s ceiling, as well as from the funds left unspent until December 31, 2015 from the amounts allocated to banks.