Translated using ChatGPT service.
On Tuesday, 2 September, the government adopted amendments to the Cabinet of Ministers regulations, providing an additional EUR 15 million in funding to continue the support program for the construction of low-rent housing. This will allow the construction of 139 more apartments.
The amendments to the Cabinet of Ministers Regulation No. 459 of 14 July 2022, “Regulations on Support for the Construction of Residential Rental Houses under the European Union Recovery and Resilience Mechanism Plan 3.1 Reform and Investment Direction ‘Regional Policy’ 3.1.1.4.i Investment ‘Establishment of a Financing Fund for Low-Rent Housing Construction’ and 3.1.1.7.i Investment ‘Loans to Real Estate Developers for Low-Rent Housing Construction’” were prepared by the Ministry of Economics (MoE).
“The low-rent housing program must continue, ensuring broader housing accessibility for those who need it most. The high demand for the program shows that we are on the right track! I am very pleased that budget priorities include support for families in the regions, where banks often do not provide mortgage loans for home purchases,” emphasized Minister of Economics Viktors Valainis.
The funding will come from EUR 12.47 million in savings from the Recovery Fund and EUR 2.5 million from repayments to the financial institution ALTUM (to cover VAT costs). The savings are reallocated from the first phase of the following investments: 5.1.1.2.i “Support Instrument for Research and Internationalization,” 1.3.1.2.i “Investments in Flood Risk Mitigation Infrastructure,” 2.3.2.1.i “Digital Skills for Residents, including Youth,” and 3.1.2.1.i “Measures to Promote Access to Public Services and Employment for People with Functional Disabilities” under “Measures to Ensure Accessibility of State and Municipal Buildings.”
Since the start of the support program, eight loan agreements have been concluded, and projects for the construction of 476 apartments in the regions are underway, with an additional 11 projects currently under evaluation.