Over 8,000 families that bought homes through the First House Program will receive subsidies from the Government to pay the monthly interest rate on the mortgage within the program following the increase in the interest rate. The decision to subsidize the rise in interest of up to 4 percentage point of the amount of the rise is to be approved in the January 25 meeting of the Cabinet, IPN reports, quoting a press release.

The subsidy will be allocated monthly this January-June. The transfer for January will be made in February, after the Government decision starts to be implemented. If the loan is repaid before time, the subsidy will stop to be transferred the month coming after the month the last payment is made.

Last year the Government allocated additional financial resources for subsidizing 50% of the rise in interest for July-December.

Any Moldovan citizen aged between 18 and 50 can apply to the First House Program. The applicant must work officially in the public sector or the private sector of the Republic of Moldova.