Home owners in France take note. The French government is planning to offer a zero-interest loan of up to 30,000 euros for eco-renovation. If approved, this plan will take effect as part of the 2009 budget. Dubbed “éco-PTZ” (pret a taux zero), the loan is open to anyone, with no revenue conditions attached, and is limited to a maximum of 30,000 euros over five years. In order to qualify, borrowers must prove they intend to undertake a comprehensive overhaul and not just a one-off item like installing a solar panel or some hemp in the rafters. The plan, initiated by Environment Minister Jean-Louis Borloo, has met resistance from the Finance Ministry as it is expected to cost the government one billion euros. But Borloo argues that it will kick-start the industry in an otherwise sluggish economy.
Via Les Echos