State Secretary of Economy and Regional Development Nebojsa Ciric affirmed yesterday that subsidised housing loans will be made available to Serbian citizens in 2011 as well.

At a press conference, at which he presented the government’s programme of measures to mitigate the effects of the global economic crisis in 2011, Ciric explained that the loans will be approved according to the same criteria as last year, except that the percentage of citizens’ participation in financing will be increased to 10% from the previous 5%.

The terms pertaining to the age of loan beneficiaries and the degree of completion of the flat being purchased remain the same, he added.

Last year, the state participated in the loan with 20%, citizens with 5% and banks with 75%, he recalled adding that this ratio has been changed and now citizens participate with 10%, the state with 15%, while the banks remain at 75%.

Applicants must be below 45 years of age, while those who have 45 years of age at the time of application can be approved a loan for the maximum period of 20 years, he recalled.

Ciric announced that details of the programme will be announced over the next several days by the National Corporation for Housing Loan Insurance.

Last year over RSD 2.8 billion from the budget was spent on subsidised loans, Ciric specified, adding that this year this amount will be around RSD 1.6 billion.