CECODHAS
member: |
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EUCHA/EKÜL |
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| Project title: |
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KREDEX – State Aid to Improve Estonia’s Living Conditions |
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| Location: |
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Throughout Estonia |
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(Projected)
start date: |
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2003 |
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(Projected)
completion date: |
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Ongoing |
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| Number of units concerned: |
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N/A |
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| Estimated cost of project: |
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Government provided financing of 200,00€ in 2004 |
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| Details of any State/EU funding received: |
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The scheme is State-financed |
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| Stated aim of project |
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In 2003 State Housing and SME Supporting Agency started a program of 10% grants of performed construction works and a 50% grant of technical evaluation report and/or energy audit report through the KREDEX scheme. In addition, the scheme offers bank loan guarantees to Estonian housing co-operatives. These loans carry an extremely low rate of interest, at 2.85% for five years, and 3.8% over a ten year period. The scheme has the support of municipal governments throughout Estonia. The scheme has been extremely successful in enabling Estonians to improve their living conditions (particularly in terms of increasing energy efficiency) although many apartment owners’ deep-rooted opposition to the concept of borrowing money remains an obstacle. |
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| List of organisations involved: |
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Estonian national and municipal authorities, housing co-operatives. |
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| Contact details: |
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Marit Otsing
Estonian Unit of Co-operative Housing Associations
Sakala 23A
10141 Taillin
Email:
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| Links to project: |
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A PDF presentation is available here |
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| Key words: |
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Affordable housing, credit schemes, energy efficiency |
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