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Thursday, July 25, 2024

More banks fund social housing projects

The Saigon Times

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HCMC – The Ministry of Construction has announced that two more banks have registered to join the VND120-trillion credit package aimed at funding social housing projects.

Alongside the Big 4 State-run commercial banks—BIDV, Vietinbank, Agribank and Vietcombank, TPBank and VPBank have joined the preferential program under Government Resolution 33. The two banks each have set aside VND5 trillion for the purpose.

To date, 73 projects across 32 localities have registered for funding from the package. Some localities, including Hanoi, HCMC, Bac Ninh, and Binh Dinh, have a substantial number of social housing projects.

Banks have disbursed a total of VND1,234 billion, with VND1,202 billion allocated to investors of 12 projects and VND32 billion to home buyers at five projects.

Among these banks, Agribank achieved the highest disbursement rate at VND531 billion, while Vietcombank had the lowest at VND2 billion. Despite recently joining the program, TPBank has already disbursed VND170 billion.

According to the Ministry of Construction, since 2021, 503 social housing projects with 418,200 units have been implemented. Of these, 75 projects have been completed, adding 39,884 units to the market. Localities have approved investment policies for 300 projects, expected to supply 262,937 units in the future.

This year, the Government aims to complete 130,000 social housing units across various localities in the country.

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