Central bank starts huge credit package for social housing projects

  • An apartment building in Tan Binh district in Ho Chi Minh City. VNA Photo: Hồng Đạt
    An apartment building in Tan Binh district in Ho Chi Minh City. VNA Photo: Hồng Đạt
  • An apartment building in Ho Chi Minh City. VNA Photo: Hồng Đạt
    An apartment building in Ho Chi Minh City. VNA Photo: Hồng Đạt
  • Apartment buildings in District 4 in Ho Chi Minh City. VNA Photo: Hồng Đạt
    Apartment buildings in District 4 in Ho Chi Minh City. VNA Photo: Hồng Đạt
Developers of social housing projects buyers of this kind of houses are entitled to benefit from a credit package worth 120 trillion VND (5.1 billion USD) which was started by the State Bank of Vietnam (SBV) earlier this month. Under the package, the loan interest rates for them will be 1.5-2% lower than those of commercial banks. Vietnam has set a target of constructing at least 1 million units of affordable "social housing" for low-income earners by 2030. Of these, 428,000 units will be built by 2025. VNA Photo: Hồng Đạt

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