Ministry of Housing and FUCVAM signed an agreement to reduce 2% annual loan rate
We celebrate “having left, at the close of this administration, this difference with laudaded housing cooperatives,” said the head of the Ministry of Housing and Territorial Planning (MVOT), Raúl Lozano. The agreement between that portfolio and the Uruguayan Federation of Housing Cooperatives for Mutual Aid (FUCVAM) allows to reduce the loan rate, from 5.16% per year to 2%, which will benefit 500 cooperative families.
Lozano and the president of FUCVAM, Enrique Cal, signed at the headquarters of the MVOT, an agreement by which the loan rate granted by the Secretary of State will contract, from 5.16% per year to 2%, and will benefit the good payers The measure will be retroactive as of March 1, 2020.
In this way, in addition, the parties assume the commitment to solve the generated difference with respect to the calculation of the subsidies and the quota that corresponded to perceive the partners. Precisely, it was explained that this allows us to finish a conflict that extended for more than four years and motivated that almost half a hundred cooperatives did not pay loans due to the increase in interest.
Cal said that the funds deposited in the accounts of the cooperatives, of the order of the 30,000,000 dollars, will be transferred to the State and thus the payment chain will be recovered.
Also present were the National Housing Director, Eduardo González; the president of the National Housing Agency, Klaus Mill, and the Secretary General of FUCVAM, Jorge Díaz.
