Romania supplements funds for First House lending program

Romania’s Finance Ministry has supplemented the funds for the First House lending program by RON 500 million (EUR 109 million). The additional ceiling has been allocated to several local banks, namely Piraeus Bank, OTP Bank, BCR, ING, Bancpost, Raiffeisen Bank, BRD, CEC Bank and Leumi Bank. These banks have already used the ceilings previously allocated to them. The financing ceiling which was initially allocated for the first months of this year amounted to RON 2.5 billion (EUR 548 million). The state also added some RON 175.5 million (EUR 38 million) to the financing ceiling, which was left unused from 2016. The program has recently reached a record number of requests, with more than 600 new applications submitted daily in May. editor@romania-insider.com