Romania’s loan guarantee fund for small and medium sized enterprises (FNGCIMM), the body that manages the guarantees extended by the Government to individuals contracting mortgage loans under the Prima Casa (First Home) program, announced the launch of the program’s 2020 round.

The Government approved on February 4 guarantees of nearly RON 2 billion (EUR 419 mln) for the program. The terms of the program have not changed from past years. Half of the mortgage loan contracted by the debtor is guaranteed by the Government, which also set maximum interest rates.

The 14 banks participating in the program are: BRD Groupe Societe Generale, Romanian Commercial Bank, Transylvania Bank, CEC Bank, ING Bank, Raiffeisen Bank, OTP Bank, Romanian Bank, Unicredit Bank, Garanti Bank, First Bank, Marfin Bank, Leumi Bank and Intesa Sanpaolo Bank.

“By the end of 2019, the First Home program registered over 260,000 guarantees granted for the purchase or construction of housing. We are pleased to implement a Government program that has positively impacted the lives of many Romanians, whether they were direct beneficiaries of the program, vendors, entrepreneurs or professionals involved in the related economic sectors. We are ready to launch a new round of the First Home program, with optimized workflows, tailored to the needs of our beneficiaries and partners, while maintaining the same commitment to give those who call us the chance to fulfill their dream,” declared Dumitru Nancu, general manager of FNGCIMM.

The total value of guarantees granted since the program was launched in 2009 amounts to RON 24.9 bln (EUR 5.22 bln).

editor@romania-insider.com

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