The Mayor General of Chisinau Dorin Chirtoaca said 150 million lei (about 10m euros) will be allocated from the 2010 Chisinau budget to a local company that would create a municipal investment fund together with foreign partners. At the yearly general meeting of the Employers Federation “Condrumat”, the mayor said the fund could total about 100 million euros and would provide loans to middle income groups at a rate of interest of up to 10%. “Thus, the banks will also gradually reduce the interest as there will be competition. On the other hand, the construction companies could start building smaller apartments that will have fewer square meters and will cost less. It will be a great effort for the City Hall to allot 100 million lei or 10% of the Chisinau budget, but we hope the project could be launched in 2010 already,” he said. Chirtoaca also said that a building with 80 social apartments for Transnistrian refugees will be put in commission next week. The average price of an apartment is 30,000 euros. The Chisinau City Hall invested 41 million euros in the building's construction.