The programme is expected to help 311,000 poor households in rural areas (Source:VBSP)

Phase II of Prime Minister Nguyen Tan Dung’s newly approved programme for providing housing support to the poor will be implemented in 2016, according to the Vietnam Bank for Social Policy (VBSP).

The programme is expected to help 311,000 poor households in rural areas nationwide build houses, thus gradually stabilising and improving their living standards.

Each household will be able to take out loans up to 25 million VND (about 1,130 USD) with annual interest rates of 3 percent within 15 years, including a five-year grace period.

VBSP General Director Duong Quyet Thang has asked the bank’s branches and offices to ensure capital resources and step up administrative procedures to facilitate access to capital.-VNA