Government urges acceleration of disbursement of VND30 trillion ($1.41 billion) package.
Deputy Prime Minister Vu Van Ninh has recently directed local authorities to accelerate the disbursement of the VND30 trillion ($1.41 billion) housing credit support package.
The State Bank of Vietnam (SBV) and the Ministry of Construction were asked to adopt more effective measures to accelerate disbursement in accordance with the provisions of Resolution No. 02/NQ-CP and Resolution No. 61/NQ-CP on housing subsidies.
The SBV is responsible for directing credit institutions to create the conditions necessary for people in need of housing to access loans at low interest rates and over regulated terms.
As at mid-January, banks had disbursed VND4,882 billion ($228.5 million), or 16.27 per cent of the package, after almost two years of implementation. The result falls short of the expectations of local authorities, who had targeted full disbursement of the package by June 1, 2016.
In order to accelerate disbursement, besides the five the banks originally assigned to deploy the package - BIDV, Vietcombank, Vietinbank, Agribank and MHB - the SBV State Bank has recently added eight more commercial banks to the list - Eximbank, Baoviet Bank, SCB, PvComBank, TP Bank, OCB, VPBank, and SeABank.