The Ministry of Finance announced yesterday an NT$30 billion aid package to help victims of the 921 earthquake rebuild their homes.
According to ministry officials, the money will provide guaranteed loans for people whose homes were damaged or destroyed by last year's devastating quake and who are unable to provide collateral for a regular loan.
In addition, no downpayment will be required for the loans.
The 921 Earthquake Reconstruction Foundation (九二一震災重建基金會) will donate NT$3 billion in insurance premiums for credit guarantees, generating an estimated NT$30 billion in loan aid.
According to ministry officials, the reconstruction loans will provide a maximum of NT$3.5 million for a family wanting to rebuild their old home or buy a new one.
A maximum of NT$1.5 million will be provided for families wanting to repair a damaged house.
RSS