Housing stimulus package disbursement exceeds 86 percent hinh anh 1A view of a social housing project (photo: vietnamnews.vn)

Hanoi (VNA) - More than 28 trillion VND (1.25 billion USD) was disbursed from the 30 trillion VND housing stimulus package up till the end of August, according to the Ministry of Construction

The disbursed amount accounted for more than 86 per cent of the total amount that banks had committed to lend, or 32.8 billion (VNA). 

Banks committed to provide cheap loans from the housing stimulus package to 56,181 households and individuals, worth 27.48 trillion VND. Till date, 51,235 households have received disbursements worth 22.98 billion VND in total. 

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 percent to individual borrowers for no longer than 15 years.-VNA