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86% of housing stimulus package disbursed

Update: September, 29/2016 - 17:10
A view of a social housing project. - VNA/VNS Photo Quách Lắm
Viet Nam News

HÀ NỘI – Up till the end of August, more than 28 trillion (US$1.25 billion) was disbursed from the VNĐ30 trillion housing stimulus package, according to the Ministry of Construction.

The disbursed amount accounted for more than 86 per cent of the total amount that banks had committed to lend, or VNĐ32.8 billion.

Banks committed to provide cheap loans from the housing stimulus package to 56,181 households and individuals, worth VNĐ27.48 trillion. Till date, 51,235 households have received disbursements worth VNĐ22.98 billion in total.

For social housing developers, banks signed contracts to provide loans to 51 projects, all of which received the disbursement of cheap loans.

The construction ministry said social housing supply mainly came from projects which started construction at the beginning of this year. Supply was, however, still below demand.

Under Circular 25/2016/TT-NHNN, issued in July, social housing developers who signed contracts to get cheap loans from the stimulus package before March 31, 2016, would not be extended the deadline of disbursement up till the end of this year.

However, loan disbursement would continue for low-income home-buyers until December 31. –VNS


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