HAVANA, Cuba.- Cuban authorities are taking action aimed at stepping up the granting of credit lines under a subsidy policy favoring citizens who need to undertake house repairs.
According to Granma newspaper, the National Housing Institute established new mechanisms to evaluate applications submitted by the population requesting credit lines.
Up to late July, the Institute recieved 33 493 applications for credit lines in the country, out of which 63 percent were submitted for evaluation.
The new subsidy policy is aimed at providing citizens, who cannot afford regular prices of construction materials currenly on the offer at the local markets, with credit lines that allow them to carry out necessary repairs.
The juridical director of the Housing Institute, Santiago Herrera, told Granma newspaper that one of the recently established mechanisms is what they call the technical information form, a tool tha favors a tecnical and financial assessment of the applications submitted.
The form includes the actions to be taken in each case and the limits of amounts of materials as well as the sum of money to be subsidized.
For Herrera, the subsidies translate into social benefits, while the new steps aimed at making them easier to implement are crucial as to the methodological and legal aspects.
The update of Cuban economy includes the cutting of massive subsides of goods and services that constitute a heavy burden for the state, and setting up a new subsidy strategy to favor those persons who really need it.