ANNOUNCEMENT 29 Aug 2016

In August 2016, the government of Argentina announced a change in the required local inputs to serve domestic customers.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



Argentine Bank of the Nation (2016) El Banco Naci?n lanz? una l?nea de cr?ditos hipotecarios para constructoras y desarrolladoras inmobiliarias.

http://www.bna.com.ar:8080/institucional/prensadoc/624_a.pdf


Inception date: 29 Aug 2016 | Removal date: open ended

Local sourcing

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 :

  1. 70% of the surface of their overall investment infrastructure is designated for building functional housing units under the scheme 'Naction tu Casa' ,
  2. The value of the purchase price of the functional units does not exceed 2.8 millions Argentinian Pesos (USD 186,879.11).

 
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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