Lula will launch a R$40 billion credit program for home renovations

President Luiz Inácio Lula da Silva launches on Monday, 20th, the Reforma Casa Brasil Program, which will offer easy credit and technical support for renovations and improvements in housing, as reported this Thursday, 16th, by the Presidency’s Social Communication Secretariat (Secom). The event is scheduled for 3:30 pm and will be held at Palácio do Planalto. As the Broadcast (Grupo Estado’s real-time news system), there will be, in total, R$40 billion in housing credit in the program.

The new government program is aimed at families who already have their own home, but face structural and adequacy problems. Among the examples cited by the government are “damaged roofs, compromised floors, precarious electrical and plumbing installations, lack of accessibility or the need for expansion”.

According to Secom, R$30 billion of housing credit will come from the Social Fund and will benefit families earning up to R$9,600. Another R$10 billion comes from Caixa Econômica Federal, through Real Estate Credit Letters (LCI), and will be aimed at families with incomes above R$9,600.

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The government’s initial goal, according to Secom, is to reach 1.5 million hires. Reforma Casa Brasil was prepared by the Ministries of Cities and Finance, in partnership with Caixa.