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Ho Chi Minh City
Thursday, October 6, 2022

Eleven housing projects eligible to access financial aid package

By T.H

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HCMC – Some 11 social housing and aging apartment building renovation projects are eligible to receive financial aid packages with discounted interest rates in the second phase of the review.

The Ministry of Construction has sent the State Bank of Vietnam the list of projects eligible for the interest subsidy package as per Decree No. 31/2022/ND-CP dated May 20.

Among the 11 projects eligible for the package, seven are social housing projects for workers and low income residents and four aging apartment building renovation projects.

These projects have been proposed by the People’s Committees of HCMC and Binh Dinh Province, with 7,904 units and VND9,646 billion in total investment capital. They are recommended for borrowing some VND4,345 billion.

The People’s Committees of the cities and provinces are responsible for the procedures of project investment and construction, the selection of investors, land allocations, and land leases.

The State Bank of Vietnam should notify commercial banks of disbursing the loans, in compliance with relevant laws, according to the Ministry of Construction.

Among 240 social housing and renovation projects in the first phase of the review, only four projects with a scale of 6,426 apartments and investment capital of VND4,665 billion met the requirement for receiving the interest subsidy package.

According to the proposals of the local authorities in Lao Cai, Hoa Binh, Tay Ninh and Tien Giang, those projects sought loans of some VND1,751 billion.

At the conference on social housing development on August 1, the authority encouraged enterprises and businesses to build social housing units for low-income people and offered support policies to ensure social security and stability.

The government approved the proposal on building at least one million social housing units for workers and low-income people in the 2012-2030 period.

The local authorities must take responsibility for publicizing and finding the land areas for social housing for enterprises. The Ministry of Construction shall coordinate with relevant ministries and agencies to implement the project after it is approved by the Prime Minister.

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