EnglishThe Romanian Association of Construction Entrepreneurs (ARACO) sent an open letter to PM Boc requesting that the government consider increasing the funds available for guaranteeing loans taken under the "First Home" program from EUR 700 million to EUR 1 billion. According to a press release sent to our editors, the representatives of developers show that, by focusing the "First Home" program predominantly on new homes, could provide jobs for over 200,000 people in construction and ancillary sectors (designing, manufacturing of construction materials such as ballast, autoclave aerated concrete blocks, dyes, etc.). If the "First Home" program will allow the buying of homes which have already been built, it will only be a lifeline for developers and real estate brokers, most of which are owned by foreigners, allowing them to repatriate their profits without providing any benefit for Romania, while almost 80,000 workers in construction and ancillary sectors are threatened by unemployment.
ARACO requests the increase of the guarantee fund for the "First Home" program to 1 billion Euros
A.T. (Tradus de Cosmin Ghidoveanu)
Ziarul BURSA #English Section / 15 februarie 2010
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