Significant support from the Federal Budget: Young people can apply for favorable housing loans

(Patria) - Deputy Prime Minister of the Federation of BiH and Federal Minister of Finance, Jelka Milićević, and Chairman of the Management Board of Union Bank d.d. Sarajevo, Vedran Hadžiahmetović, signed at the headquarters of this bank in Sarajevo an agreement on a housing loan line for young people on favorable terms. This makes the loan operational, and all interested parties can apply starting June 10.

- For the fifth consecutive year, we are allocating subsidies from the budget of the Federation of BiH to support housing for young people. This year's allocation of 15 million KM is particularly significant in light of the current global economic crisis that is spilling over into our country, making life difficult for everyone, especially young people's ability to acquire their own homes. With these incentives, we contribute to young people starting to fulfill their dreams of an independent beginning to a new chapter in life, and thus give them more reason to stay in their country, start their families, and be economically independent, stated Federal Minister Milićević on the occasion of signing the agreement.

The Chairman of the Management Board of Union Bank emphasized that the housing loan line for young people is a successful project that has been implemented in cooperation with the Government of the Federation of BiH since 2018.

- The specialty of this project is socially responsible lending, which is reflected in the low interest rate, which we further reduce for our clients upon the birth or adoption of children, which is an additional incentive for retaining young and educated people in BiH. This year too, Union Bank will allocate its own funds to increase the loan line, we have extended the repayment period to 25 years with an increased individual loan amount to 250,000 KM, and it is particularly important to emphasize that the interest rate is fixed until the end of the loan repayment period. We are convinced that this concept of partnership between the majority owner and the Bank largely contributes to improving the living standards of our clients - stated Hadžiahmetović.