funds rural house repairs
HCM CITY — The HCM City
People’s Committee has approved a VND1.2 billion (US$75,000) project to
improve the housing conditions of the poor in rural Nha Be District.
The money will be used to
improve the quality of shelter, sanitation and water systems in individual
The two-year project
consists of two components: the establishment of a revolving loan fund and
provision of technical assistance for low-cost construction technology.
It will be undertaken with
the US-based Habitat For Humanity International and the city’s Capital Aid
Fund for Employment of the Poor (CEP).
The VND1.2 billion
revolving fund has been set up with VND600 million contributed by Habitat for
Humanity and another VND600 million from the CEP.
The fund will be managed
by the CEP, with the Habitat for Humanity contribution provided in the form of a
zero-interest loan to CEP.
The loan will be repayable
in a single lump sum at the completion of the two-year period.
The CEP will be
responsible for the selection of clients and Habitat for Humanity responsible
for the provision of technical assistance to assist clients in upgrading their
About 300 poor families in
the district are expected to benefit from this project.
Habitat for Humanity works
in 100 countries around the world in the areas of housing microfinance,
vocational training and other capacity-building interventions related to the
eradication of inadequate housing.
CEP is the largest
microfinance institution in Viet Nam with more than 60,000 clients. — VNS