The amendment of the “First Home” program was announced as a separate measure in the program of the government led by Prime Minister Victor Ponta for the 2013-2016 period.
This measure aims to strengthen the guarantee and counter-guarantee instruments to stimulate investments in strategic sectors.
This project was equally taken into consideration by former Premier Emil Boc government, but it was later abandoned after a Competition Council warning.
The First Home program was launched in 2009, providing state guarantees for mortgage loans up to EUR60,000, and, since 2010, up to EUR70,000 for homes not yet built and EUR75,000 each for new homes bought by persons organized in associations.
The government has recently decided the “First Home” program will continue next year with the state guarantees that were not used in 2012.
Also, a draft decision published on the Finance Ministry’s website earlier this month stated the Government will continue the “First Home” program in 2013, with additional guarantees of EUR200 million that should be exhausted by midyear.