Construction Ministry pledges to help construction companies not to go bankrupt

A commission set up under the Ministry of Construction and Territorial Development works on a program aimed at financing the constructions that cannot be finished owing to financial difficulties, Info-Prim Neo reports. “We do not have budget resources to finance such a large sector and we are forced to look for additional resources, such as loans and grants. Therefore, the conditions under which the apartment buildings will be subsidized or lent money will be tough and strict,” the outgoing Minister of Construction Vladimir Baldovici said. “Only 25% of the companies that erect buildings presented information to cooperate with the Construction Ministry. The others do not want this cooperation,” the official said. “The financial intervention mechanism is being discussed. Some of the companies say that the state should not purchase unfinished buildings. Other companies agree with this and say that the apartments in these buildings could become social dwelling. Other interventions concern the recouping of the money. There will be probably offered loans repayable in 15-20 years,” said Elena Bejenaru, head of the Ministry’s Apartment Division. She said that so far the economic entities have presented information about 60 apartment buildings out of the 194 aimed. The State Register in April this year included 151,651 companies. 6% out of them are construction companies.