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City funds rural house repairs

Update: November, 24/2006 - 00:00

City funds rural house repairs

(24-11-2006)

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 dwellings.

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 housing.

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

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