A draft resolution on the package is being compiled by the ministry and will be open for feedback from relevant ministries and agencies before its submission to the Government.
The package will be allocated for the Social Policy Bank to offer loans to purchase or build, renovate and repair social housing.
    |
 |
|
Social housing projects in Dong Nai Province |
The interest rate of the preferential credit package is equal to the interest rate for poor households as decided by the Prime Minister in each period.
The disbursement rate must not be later than December 31, 2030.
It is expected that about 16.5 trillion VND will be disbursed each year during the 2025-29 period, while about 17.5 trillion VND will be allocated in 2030 alone.
The draft resolution aims to ensure funding for the 'One Million Social Housing Units' project for low-income people and industrial park workers across the 2021-30 period.
It aims to create conditions for those groups to have a place to live, provide housing support for social policy beneficiaries, low-income people and the poor facing housing difficulties.
According to the Ministry of Construction, the project requires an investment of up to 500 trillion VND.
The Government previously approved a 120 trillion VND package, which does not include State budget support, to offer preferential loans from four commercial banks at rates 1.5 to 2% lower than standard lending rates.
But after over one year of implementation, the disbursement results remain sluggish with only over one%, or 1.2 trillion VND taken up.
The Ministry of Construction proposed the Government assign the Ministry of Finance to review and evaluate the potential for issuing Government bonds to study the feasibility of the 100 trillion VND package.
Source: VNA