The programme is implemented by the National Fund for Entrepreneurship and Development (ETEAN) and will finance interventions with a maximum work budget of 250 euros per sqm and up to 25,000 euros.
With the cooperation of ten banks, five of which will be cooperative, the “ExoEconomy at Home II” programme is expected to be activated in October, through which energy upgrading and saving interventions in residential buildings will be supported. The main features of the programme are expected to be officially announced in the coming days. The amount of the grant depends on the income of the applicant and is scaled as follows:
- Individual income up to €10,000 or family income up to €20,000, a basic grant rate of 60% and an increase of 5% for each dependent member with a maximum grant rate of 70%
- Individual income of EUR 10,000-15,000 or family income of EUR 20,000-25,000: basic grant rate of 50% and an increase of 5% for each dependent member, with a maximum grant rate of 70%.
- Individual income EUR 15,000-20,000 or family income EUR 25,000-30,000 basic grant rate of 40% and an increase of 5% for each dependent member with a maximum grant rate of 70%
- Individual income of EUR 20,000-25,000 or family income of EUR 30,000-35,000 basic grant rate of 35% and an increase of 5% for each dependent member with a maximum grant rate of 50%
- Individual income EUR 25,000-30,000 or family income EUR 35,000-40,000 basic grant rate of 30% and an increase of 5% for each dependent member with a maximum grant rate of 50%
- Individual income of EUR 30,000-35,000 or family income of up to EUR 40,000-45,000 basic grant rate of 20% and an increase of 5% for each dependent member with a maximum grant rate of 50%
The use of a loan is not compulsory. However, if the applicant wishes to take out a loan, this will be proportional to the work budget and will cover the difference between the grant and the budget up to a maximum of EUR 25 000. The duration of the loan will be 4-6 years with no grace period and a 100% interest rate subsidy is foreseen. In terms of borrowing, the final beneficiary may request an advance payment of 70% of the initial eligible intervention budget. The loan instalments will be monthly and the interest rate will be fixed throughout the duration of the loan. The procedures of the programme will be simplified and will be implemented exclusively by the ETEAN. It is recalled that a total of 86,939 applications had been submitted to the “Home Economy I” programme.
50 041 of them had been accepted, while 36 898 were pending due to the exhaustion of funds. Between August 2016 and September 2017, 15,365 households (42% of the total) were covered, while 21,533 applications are still pending. It should be noted that there is a significant differentiation of the new programme compared to the previous one. The maximum work budget in the previous program was 15,000 euros, the maximum loan amount was 12,750 and the use of the loan was mandatory, while only three income categories were foreseen with 70%, 35% and 15% subsidy respectively.
Finally, the operations financed are as follows:
Replacement of frames and shading systems, installation of thermal insulation in the building shell including the roof, roof and pilot house and upgrading of the heating and hot water supply system. The maximum eligible costs per specific intervention will be determined by the programme guide.
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