Under the 10-year social housing loan package, which was launched by the central bank in April, the loan interest rates for them will be 1.5-2% lower than those of commercial banks. (Photo: VNA) The construction minister and officials from theGovernment Office and the ministries of public security, finance, planning andinvestment, natural resources and environment, and justice will join the event.
The conference will also see the participation ofthe general directors of the Vietnam Bank for Social Policies, and 14Hanoi-based credit institutions, and representatives from the Vietnam NationalReal Estate Association.
In Dispatch No. 993/CD-TTg, dated October 24, 2003,the PM urged more drastic solutions to boost the domestic property market in asafe, healthy and sustainable fashion, thus contributing to spurring socio-economicdevelopment.
He asked the central bank to instruct commercial banks tocontinue real estate lending, take appropriate solutions to reduce interestrates, further streamline administrative procedures, and offer specialincentives to feasible projects.
The SBV was also requested to closelycoordinate with the Ministry of Construction to review loan terms in order toaccelerate the disbursement of the social housing loan package worth 120trillion VND (5.12 billion USD).
The credit package with incentive interest for bothdevelopers and buyers is set to boost social housing construction amid ashortage 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.
At a recent question-and-answer session of theongoing 6th sitting of the 15th National Assembly, SBV Governor Nguyen Thi Hongalso affirmed that the bank will step up the information work to furtherpopularise the package among the public, given its current sluggish disbursement.
The disbursement has been far slower than expecteddue to the limited supply and inappropriate loans terms, Hong elaborated, notingthat the central bank will urge People’s Committees of cities and provinces tosoon announce projects entitled to the package.
The bank will instruct credit institutions to paymore attention to the disbursement, and expand it to commercial banks, Hongsaid.
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.
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./.
VNA
