More capital poured into social housing
A social housing credit package worth 30 trillion VND (1.3 billion USD) is on the verge of running out, and this could pose difficulties for low-income people when it comes to renting or buying property.
Illustrative image (Source: VNA)Hanoi (VNA) – A social housing credit package worth 30 trillion VND (1.3 billion USD) is on the verge of running out, and this could pose difficulties for low-income people when it comes to renting or buying property.
To address this problem, the Government has assigned relevant ministries and agencies to offer an additional 1 trillion VND (42.6 million USD) for the Bank for Social Policy and 2 trillion VND for four commercial banks to support social housing loans.
The Government has also asked the Ministry of Construction to study shortcomings in Decree No.100/2015/ND-CP on social housing development and management, and recommend necessary amendments and supplements.
According to the ministry, a total of 207 social housing projects with more than 85,810 apartments and total floor area of nearly 4.3 million sq. m have so far been completed nationwide. Another 220 projects with 179,640 apartments covering 8.98 million sq. m are under construction.
Nine social housing projects for low-income earners with more than 4,100 apartments measuring 205,500 sq. m were completed and put into use in 2019, which did not meet the target set by the national housing development strategy to 2020 with a vision to 2030.
The strategy aims for 12.5 million sq. m of social housing by the end of 2020./.
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