The first subsidized loans by the Government of Macedonia within the project "Buy a House, Buy a Flat" were presented on Friday. Vice PM and Finance Minister Zoran Stavreski presented the certificates to 50 loan recipients.

Credits amount to 1.447.614 euros, out of which 271.239 euros are envisaged for subsidies. The subsidy for the 'half instalment' model is 242.948 euros, while subsidies for the second model of partial participation are 28.291 euros.

Loans have been approved for purchasing flats or houses in Skopje, Bitola, Strumica, Kocani, Makedonski Brod, Kumanovo, Kavadarci, Demir Hisar, Kicevo, Tetovo and Stip.

The loans will be a positive example and signal for those citizens who haven's solved the housing issue, according to minister Stavreski.

"We are content with the start of the project's realisation. This is a long-term project, envisaged to take place for four years. We are cooperating with eight Macedonian banks, with municipalities and the construction sector," Stavreski noted.

Loan recipients voiced gratitude to the Government for the project and the chance to close their housing issue.

Applications for the "Buy a House, Buy a Flat" projects can be submitted till May 31 in Stopanska Banka Skopje, NLB Tutunska Banka, Ohridska Banka, Sparkasse bank, TTK bank, Alpha bank, ProCredit bank and Stopanska Banka Bitola.

The project enables a credit to be obtained for purchasing an apartment or a house. There are two options. One option, the so called "50/50 installment", offers the government to provide finances for half of the monthly installment of the home loan for five years. The second one - "equal participation" - the state will pay 50% of the credit. Those citizens willing to use the first or second model need to meet several conditions - the credit to be less than 50.000 euros with a payment deadline of 20 years, their incomes to be less than 900 euros and the values of the flat or house not to be more than 900 euros per square meter.