Society

Central bank to back low-income earners in accessing loans for housing: Governor

The State Bank of Vietnam (SBV) will give flexible and suitable management to guide credit resources to business and production activities and create favourable conditions for workers and low-income earners to access capital for house purchase, Governor Nguyen Thi Hong said on August 1.
Central bank to back low-income earners in accessing loans for housing: Governor ảnh 1A social housing project in Hanoi (Photo: VNA)
Hanoi (VNA) – The State Bank of Vietnam (SBV) willgive flexible and suitable management to guide credit resources to business and production activities and create favourable conditions for workers andlow-income earners to access capital for house purchase, GovernorNguyen Thi Hong said on August 1.

Speaking at a conference on social housing development, Hong said that the bank is working hard to help remove difficultiesfacing pandemic-hit people and businesses, including supporting firms investingin social housing projects to access credit sources at low interest rates.

However, Hong said that as the budget allocated to provideinterest rate compensation through a decree on social housing development and management has not been arranged, and designated credit institutions have not been able to deploy the programme.

She said that the SBV has advised the Government to issue adecree to offer 2% interest rate to enterprises, cooperatives and businesshouseholds when they borrow loans from commercial banks between 2022-2023, with a total support value of 40 trillion VND (1.71 billion USD).

According to General Director of the Vietnam Bank for SocialPolicies Duong Quyet Thang, 185,741 poor people have accessed loans for housing,while 29,953 households are benefiting from flood-proof housing policies. Thesocial housing programme has disbursed 9.506 trillion VND to 25,224 households.
Thang proposed that the Ministry of Construction and localities continue to review those in need of loans for housing, giving a foundation for the bankto implement related plans.

Duong Cong Minh, Chairman of the Board of Directors of SaigonThuong Tin Commercial Joint Stock Bank (Sacombank), said that the bank iswilling to participate in the social housing development programme, andsuggested that the Government and the SBV design specific regulations andpolicies for the bank to engage in the scheme./.
VNA
#State Bank of Vietnam (SBV) #Governor Nguyen Thi Hong #low-income earners #Vietnam Bank for Social Policies #Vietnam #Vietnam news #Vietnam News Agency
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