Increase in interest rate on loans provided within First Home programme to be compensated in Moldova

Chisinau, 27 July /MOLDPRES/ - The cabinet today approved a decision on the compensation of the increase in the interest up to 50 per cent and the way the compensations are provided, in order to diminish the impact of the increase in the loans’ value and reduce the risk of entering a payment default by the beneficiaries of the First Home Programme, the government’s communication and protocol department has reported.   

Thus, the compensation will be provided monthly to the people who on 30 June 2022 had status of beneficiary of the First Home state programme. The calculation and the payment of the compensation will be made on the period July 2022-December 2022.

The volume of compensation provided from the state budget to one beneficiary will be calculated starting from 1 July 2022, at a size of 50 per cent of the sum of interest calculated from the balance of the loan left.  

The transfer of compensations for July will be made in next August, after the government decision is enforced. In case of anticipated payment of the mortgage loan, the transfer of compensation ceases as of the month next to the one when the last installment was paid.   

At the today’s meeting, the cabinet approved a decision on the allocation of financial means worth 42 million lei from the government’s reserve fund, in order to cover these expenses.      

Photo: Government