March 07, 2014
TheSrpskaTimes

The Council of Ministers accepted an initiative of the Ministry of Finance and Treasury and prepared a delegation for negotiations for the conclusion of the Credit Agreement between B&H and the Development Bank of the Council of Europe to finance the social program of housing for people with low incomes.

The loan is worth five million euros and is intended for housing of young and highly educated people in Republika Srpska.

The eligible beneficiaries should have the following; young individuals or couples with or without children under the age of 35, university degree, first home buyers, no prior mortgage loans.

The Investment Development Bank will cover 10% of costs, while 90% will be financed by the Development Bank of the Council of Europe. Financial terms of the loan will be subject to negotiation, the repayment period is 20 years with a grace period of five years and a low interest rate.