SBV Governor Nguyen Thi Hong. (Photo: VNA) The 120 trillion VND (5.12 billion USD) credit packagewith incentive interest for both developers and buyers is set to boost socialhousing construction amid a shortage of affordable apartments.
Under the 10-year package, which was launched by thecentral bank in April, the loan interest rates for them will be 1.5-2% lowerthan those of commercial banks.
However, the disbursement has been far slower than expecteddue to the limited supply and inappropriate loans terms, Hong explained, notingthat the central bank will urge People’s Committees of cities and provinces tosoon announce projects entitled to the package.
The 120 trillion VND (5.12 billion USD) credit package with incentive interest for both developers and buyers is set to boost social housing construction amid a shortage of affordable apartments. (Photo: VNA) Over the past time, only 18 out of the 63 People'sCommittees released the list of participating projects with 53 projects andtotal loan demand of 27 trillion VND. To date, 105 billion VND has beendisbursed for three in three localities.
According to a Government report, as of the end ofSeptember, a total of 46 social housing projects with about 20,210 apartmentshad been completed in urban areas, while 419 others with 392.635 apartments areunder construction.
Regarding cashless payment, Hong stressed thatthanks to specific solutions taken by the SBV such as reviewing the legalsystem, non-cash transactions have been on the rise.
However, the traditional payment habit and theprevalence of high-tech crimes are among the obstacles to cashless payment, shesaid, adding that the SBV will further review relevant documents, coordinatewith agencies to perfect the legal corridor, take solutions to ensure informationsecurity and safety for clients, and enhance the communications work.
At the working session, the Governor also cleared upquestions on credit management and loan shark prevention./.
VNA
