During its meeting on 26 December, the Basque Government Cabinet approved the Decree regarding the financial partnership between credit institutions and the administration of the Basque Autonomous Community for housing and land. This Decree regulates the terms and conditions of the financial partnership with credit institutions for housing and land protectable actions in 2019 and 2020, and for refurbishment, through the “Special Financial Instrument for Refurbishment”, from 2019 to 2023. Indeed, the Special Financial Instrument for Refurbishment is going to be used in the actions under the AGREE project. This new measure expands the range of financial instruments and funding modalities, under advantageous rates and terms, for people who undertake the very wide array of protectable housing actions.
The Special Financial Instrument for Refurbishment defines the partnership between the Basque Government’s Ministry of Housing, the Basque Finance Institute and the signatory credit institutions, to finance refurbishing housing and buildings, universal accessibility and improving energy efficiency. This Instrument envisages a Guarantee Fund, provided by the Ministry of Housing, which will cover 16% of each failed loan. The Basque Finance Institute will run the Fund, which will be worth €30 million.
Further information: Irekia