Bulletin - Vlada Crne Gore

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„1000 housing credits” BULLETIN OF THE MINISTRY OF FINANCE/APRIL - JUNE 2006 PROJECT OF THE GOVERNMENT OF MONTENEGRO „1000 HOUSING CREDITS” In order to help certain number of citizens, and employees in the public administration bodies to solve housing issues, Ministry of Finance and Commission for Housing Issues of the Government of Montenegro created the project "1000 housing credits". The project was worked out in order to provide opportunity to persons with inadequately solved housing issues to purchase new housing objects, and the reconstruction of the existing ones, through credit allocation, with subsidized interest rates. For the purpose of stated project, Government of Montenegro has made conclusions at the session on 16th March 2006 and entrusted with them the Ministry of Finance and the Commission for Housing Issues to prepare and to deliver to the Government directions for method and criteria of allocation of funds earmarked for project realisation, and to make adequate contracts with commercial banks. In accordance to that, Commission for Housing Issues of the Republic of Montenegro has formed Work group for implementation of procedure of credit indebtedness in the Project "1000 housing credits". Work group has prepared the procedure and determined criteria for credit allocation on public administration bodies, and the content of the Public invitation for Project "1000 housing credits". Based on the conclusions of the Government of the Republic of Montenegro, Ministry of Finance and the Commission have included into the project commercial banks in Montenegro. In accordance to that, contracts have been concluded with Crnogorska komercijalna banka, Montenegro- NLB Bank, Podgoricka- Societe Generale Bank, Hypo-Alpe- Adria Bank and Niksicka Bank. Those contracts define rights and liabilities of the Ministry of Finance, of the Commission, banks and ultimate credit beneficiaries. In order to introduce the content of the project to citizens and employees in the public administration bodies, Ministry of Finance and Commission have announced Public 24
„1000 housing credits” BULLETIN OF THE MINISTRY OF FINANCE/APRIL - JUNE 2006 claims, provided for under the Public invitation, banks and state authorities were obliged to process the received claims in the period of 20 days, and deliver lists of approved claims to the Commission. By consideration of mentioned lists it is determined that the total number of claims is 184, which have met conditions of banks, which was less than the determined quota of 200 credit claims projected for citizens. Therefore, Work group has accepted lists from all banks, with all claims and amounts, as they were submitted to the Commission. In accordance to that, the Work group sent the draft conclusion to the Commission to verify mentioned lists of banks and to inform banks about that. Senior employee Dragan Darmanović invitation for participation in allocation of "1000 housing credits". Public invitation was announced on 10th May 2006, and it lasted for 15 days. During that period, as it was defined by the Public invitation, citizens submitted their claims to banks, while employees in the public administration bodies submitted their claims in bodies where they work. Public invitation defines that project "1000 housing credits" should comprise following credit lines: • 200 credits for reconstruction to the amounts up to 5.000 eur, and repayment period up to 5 years; • 300 credits for enlargement and/or supplemental purchase of the housing to the amounts up to 15.000 eur and repayment periods up to 10 years; and • 500 credits for solving of housing issue to the amount up to 30.000 eur and repayment periods up to 20 years. Of anticipated 1000 housing credits, 800 credits were earmarked public servants, out of which: 600 housing credits for employees in the government administration bodies, 200 housing credits for employees in the Health Insurance Fund of the Republic and other public medical institutions. For citizens of the Republic of Montenegro 200 housing credits were projected. Public invitation determined that claimants should submit data on whether they possess housing or is it inadequate, on the years of service, and on number of family members. The project estimated that the total interest rate of the bank is 6,4% yearly. For ultimate credit beneficiaries interest rate was 4% yearly, while the Government of the Republic of Montenegro accepted to subsidize rate with 2,4% yearly. Subsidized interest rate amount Ministry of Finance would pay by more instalments, during the period not longer than 3 years. After the expiration of the deadline for submission of Commission verified and approved the lists and informed the banks regarding that. After the approval, banks started the procedure of concluding contracts with citizens, for the purpose of realisation of the approved housing credits. Furthermore, the Commission also received lists of employees in the governmental bodies, which have submitted their claims to heads of the governmental bodies where they work in. Bodies made lists where the employees were ranked according to the terms specified in the Public invitation (years of service, number of household members and solved housing issue). After the consideration of the received claims, Work group stated that the large number of claims was received from public administration bodies (over two thousand), and has made credit reallocation based on the previously fixed quota and methodology. Based on that, Work group has made credit allocation according to bodies, and determined how many credits belong to which body. After the claim analysis, 595 credits were granted, out of which 301 to the amount up to 30.000eur, 183 up to 15.000 eur and 111 credits up to 5.000 eur. To the Health Insurance Fund of the Republic and other medical institutions, for which 200 credits were provided for under the Public invitation, 185 credits were allocated, 93 credits up to 30.000 eur, 56 up to 15.000 eur and 36 up to 5.000 eur, while the remaining 15 credits will be subsequently allocated within the medical institutions. Commission adopted the suggestions of the Work group at the session held on 14.06.2006, and informed governmental bodies and banks about its decision, so that signing of contract between employees in the governmental bodies and banks could begin. Public servants, who according to the rank-list made by the public administration bodies have passed the selection, will conclude with banks contracts on allocation of housing credits, if they fulfil terms of the banks. Senior advisor DRAGAN DARMANOVIĆ 25
Page 1: • BulletinIV • April - June 200
Page 4 and 5: TABLE OF CONTENTS BULLETIN OF THE M
Page 6 and 7: Introduction BULLETIN OF THE MINIST
Page 8 and 9: Law on property-legal relations to
Page 10 and 11: Law on property-legal relations to
Page 12 and 13: New draft Law on state property BUL
Page 14 and 15: New draft Law on state property BUL
Page 16 and 17: Restitution BILTEN Ministarstva fin
Page 18 and 19: Contents of draft law on tax adviso
Page 20 and 21: Procedures In the tax procedure BUL
Page 28 and 29: European Bank for Reconstruction an
Page 30 and 31: European Bank for Reconstruction an
Page 32 and 33: Support to reform processes of the
Page 34 and 35: Most important activities of the mi
Page 36 and 37: Review of other news BULLETIN OF TH
Page 38 and 39: Payment of third instalment of old
Page 40 and 41: Report on account of public debt of
Page 42 and 43: Macroeconomic Analysis BULLETIN OF
Page 50: Macroeconomic Analysis BULLETIN OF

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