A statement from State Bank said that by the end of the second quarter of 2024, the credit package of VND120,000 billion (US$4.8 billion) for social housing projects has been disbursed a total amount of VND1,234 billion (US$49.3 million), comprising VND1,202 billion (US$48 million) for investors and VND32 billion (US$1.3 million) for social housing buyers.
The four State commercial banks involved in the program are Bank for Investment and Development of Vietnam (BIDV), Vietnam Joint Stock Commercial for Industry and Trade (Vietinbank), Joint Stock Bank for Foreign Trade of Vietnam (Vietcombank) and Vietnam Bank for Agriculture and Rural Development (Agribank).
Of which, Agribank is now leading the disbursement rate with nearly VND700 billion (US$28 million).
Apart from the State commercial banks, two private banks VPBank and TPBank have registered to join the program with a guarantee for lending VND5,000 billion (US$200 million) each to lift the credit package to VND130,000 billion (US$5.2 billion).
At the current time, the State Bank is receiving opinions from relevant ministries and agencies on draft Resolution No.33/NQ-CP on adjusting the preferential credit package for social housing projects towards the reduction of interest rate for buyers from 3-5 percent per year. The current benchmark is 7.5 percent per year.
