ANNOUNCED AS TEMPORARYNo
On 29 August 2016, the Argentine Bank of the Nation (Banco de la Nacion Argentina) launched a new credit line aimed at providing financing exclusively to Argentine construction firms and real estate developers. Interested firms must participate in housing construction under the Bank's mortgage scheme 'Nacion tu Casa' (in English: 'Nation your House') -- i.e. a mortgage scheme that provides Argentine nationals opportunities to purchase housing units under favorable terms provided by the Argentine Bank of Nation.
Under this new scheme, the Argentine Bank of the Nation commits to provide loans which ammount up to 50% of their investment related with the purposes of the mortgage scheme 'Nacion tu Casa'. The loans will be distributed at a rate of 22%, for a period of up to 36 months and under a grace period of 6 months.
Beneficiaries in order to be eligible to applying for this loan scheme, must ensure that :
Banco de la Nación Argentina(the Argentine Bank of the Nation) is the national bank of Argentina and, a state owned national financial institution. The Bankwas founded on 18 October 1891 by President Carlos Pellegrini.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
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