5 billion USD package for social housing development sees first disbursements

  • A social housing project is underway in the central province of Binh Thuan. VNA Photo: Nguyễn Thanh
    A social housing project is underway in the central province of Binh Thuan. VNA Photo: Nguyễn Thanh
  • A social housing project is underway in the central province of Binh Thuan. VNA Photo: Nguyễn Thanh
    A social housing project is underway in the central province of Binh Thuan. VNA Photo: Nguyễn Thanh
  • A number of social housing projects are underway in the northern province of Bac Giang. VNA Photo: Tuấn Anh
    A number of social housing projects are underway in the northern province of Bac Giang. VNA Photo: Tuấn Anh
  • A number of social housing projects are underway in the northern province of Bac Giang. VNA Photo: Tuấn Anh
    A number of social housing projects are underway in the northern province of Bac Giang. VNA Photo: Tuấn Anh
  • A social housing project is underway in Viet Yen district, the northern province of Bac Giang. VNA Photo: Tuấn Anh
    A social housing project is underway in Viet Yen district, the northern province of Bac Giang. VNA Photo: Tuấn Anh
A 120 trillion VND (5.08 billion USD) package in preferential lending rates for social housing developments started to see first disbursement, a positive signal after the development of affordable homes had been in stagnation partly due to a shortage of capital for several years. According to the Governor of the State Bank of Vietnam Nguyen Thi Hong, the central bank as of July had received three documents of Bac Giang, Tra Vinh and Tay Ninh regarding 15 social housing projects in these provinces, five of which were licensed with construction permits. Besides, three provinces including Binh Dinh, Phu Tho and Ba Ria–Vung Tau announced nine social housing projects recently. According to the Ministry of Construction, some 21 social housing projects, including for workers and renovation of old apartment buildings with a total of 20,000 apartments were eligible for the 120 trillion VND package. Vietnam aims to develop at least one million affordable housing units by 2030. VNA Photo

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