Housing stimulus package disbursement exceeds 86 percent

More than VND28 trillion (US$1.25 billion) was disbursed from the VND30 trillion housing stimulus package up till the end of August, according to the Ministry of Construction.

The disbursed amount accounted for more than 86% of the total amount that banks had committed to lend, or VND32.8 billion. 

Banks committed to provide cheap loans from the housing stimulus package to 56,181 households and individuals, worth VND27.48 trillion. Till date, 51,235 households have received disbursements worth VND22.98 billion in total. 

housing stimulus package disbursement exceeds 86 percent hinh 0

For social housing developers, banks signed contracts to provide loans to 51 projects, all of which received the disbursement of cheap loans. 

The construction ministry said social housing supply mainly came from projects which started construction at the beginning of this year. Supply was, however, still below demand.

Launched in June 2013, the credit package offers loans with a maximum interest rate of 5% to individual borrowers for no longer than 15 years.

VNA

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