Vietnam sets to form US$1.2bln preferential credit package for housing projects

The government office yesterday issued a conclusion notice of Prime Minister Pham Minh Chinh on social policy credit.

Particularly, Prime Minister Pham Minh Chinh assigned the State Bank, the Ministry of Finance and the Ministry of Planning and Investment to study to add the policy on credit packages serving production activities, businesses and livelihoods for residents with moderate income and those who are working in sectors of agriculture, forestry, fishery and salt making.

Besides, the Prime Minister also assigned the Ministry of Construction to preside over and collaborate with the Ministry of Planning and Investment, the Ministry of Finance and the State Bank to complete the study, formation and implementation of the credit package of around VND30 trillion (US$1.2 billion) for Vietnam Bank for Social Policies (VBSP) to perform loans for buying, leasing, renovating, repairing housing projects under the implementation of the social policy in advance of November.

Of the total credit amount, VND15 trillion (US$604 million) will be from government bond issuance and the rest shall be allocated from localities' entrusted loans.

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