VND120-trillion package disbursement slower than expected

HCMC – The disbursement of the VND120-trillion credit package for social housing has been far slower than expected, with just a few applicants since its rollout over three months ago. Data from the State Bank of Vietnam (SBV) showed that only VND95 billion from the VND120-trillion aid package has been disbursed since its official launch. Commercial banks have committed to lending VND950 billion to several investors of social housing projects. The VND120-trillion credit package was introduced in April this year, following the Government’s Resolution 33, to encourage investors to develop social housing projects and support workers in purchasing a home. The SBV will continue to instruct commercial banks to expedite the loan disbursement and prioritize providing loans for social housing projects, renovation, and reconstruction of apartment buildings to meet the housing demands.