Bankers have sold only 195 RON loans through the "First Home"scheme, accounting for 0.7% in the total number of guaranteesgranted so far by the state, as because of the higher interestrates than for foreign currency denominated loans, demand for RONloans is almost inexistent.
The value of RON loans released through this programme stands at20.5bn RON (4.8m euros), out of a total amount of state guaranteesof around 1.2bn euros, according to the data provided by theNational Guarantee Fund for SME loans (FNGCIMM), the institutionmanaging the guarantees earmarked for this programme.
"The interest rate differential is clearly in favour of foreigncurrency loans. Moreover, people borrowing in euros are not facinga very high risk as the central bank has clearly indicated theexchange rate will be kept under control. A way of boosting RONfunding would have been for part of the monthly instalment for RONloans to be subsidised by the state," comments Nicolaie Chideşciu,chief-economist with ING Bank.
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