Social housing credit package of VND1 trillion to be launched in 2018

4/13/2018 - 10:04:12 AM

A preferential loan package of VND1 trillion (US$44 million) in support of affordable home purchases will be carried out in 2018, with a projected interest rate of 4.8% per year, pursuant to the Government Decision No.370.

A credit package of VND1 trillion will be disbursed in 2018 (illustrative image)

Deputy General Director of the Vietnam Bank for Social Policies (VBSP), Nguyen Van Ly, said that the social housing assistance programme will be extended and a credit package of VND1 trillion will be disbursed in 2018. Of which, VND500 billion (US$22 million) will be funded by the State and VND500 billion will be funded by the VBSP.

According to the approved plan, the Government will allocate VND1.16 trillion (US$51.04 million) to the VBSP by 2020 and the bank is required to mobilise a corresponding amount. Therefore, by 2020, the VBSP will have nearly VND2.3 trillion (US$102.2 million) of preferential loans under the housing support programme, Ly said.

In 2018 alone, the VBSP will allocate VND50 billion out of the VND1 trillion package to both Hanoi and Ho Chi Minh City; VND10 billion to Hai Phong; VND29 billion to Bac Giang; VND19 billion to Lai Chau; and VND30 billion to Thanh Hoa; among others.

Earlier on April 3, 2018, the Prime Minister signed Decision No.370 on the interest rates for affordable housing purchases applied in 2018 at the VBSP. Accordingly, a preferential rate of 4.8% per year will be offered to social home buyers and the overdue debt interest rate is projected to stand at 130% of the lending interest rate.

Beneficiaries of the credit package include revolutionary contributors, low-income workers, needy and near-poor households, and State employees.

Source: NDO

Woman active in charity work

Nguyen Thi Nu, a resident of Thach Ly sub-area in Da Bac township of Da Bac district, has been popular in the area as a simple woman that is rich in compassion. For nearly 10 years, she has spread her kindness through many charity activities to ease difficulties for the needy.

All-people voluntary blood donation day, April 7th: Donating blood saves lives - giving life

Voluntary blood donation (HMTN) is a noble and humane gesture. 24 years ago, the Prime Minister issued Decision No. 43/2000/QD-TTg on mobilizing and encouraging Voluntary blood donation and designated April 7 every year as "All-People Voluntary blood donation Day”. This is an important milestone in the movement of voluntary blood donation, creating a strong change in the awareness and action at all levels of the government and people from all walks of life.

Yen Thuy working to become new-style rural district

Yen Thuy is aiming to become a new-style rural district by 2025. To achieve this goal, the district has been mobilising the entire political system and local people to early fulfil required criteria.

Hoa Binh man transforms bamboo into “dragons”

From a normal bamboo tree, Nguyen Van Nam in Yen Tri commune, Yen Thuy district has transformed it into a "bamboo dragon". His works have been present in many countries.

The Public Security of Cao Phong District: Launching a model of clever civil mobilization “The Adopted Children of the Communal Police”

On March 27th, the Public Security of Cao Phong District launched the model of clever mobilization "The Adopted Children of the Communal Police” advised and implemented by the Police of the communes and the town in coordination with the Youth Communist Union and the Women’s Union of the District Police.

There are 10 communes meet new rural standards in Tan Lac distict

According to the People's Committee of Tan Lac district, Hoa Binh province, by the end of 2023, Tan Lac district has 10/15 communes that meet new rural standards, with an average of 16 criteria per commune. The entire district has 14 OCOP products, including 13 3-star OCOP products and 1 4-star OCOP product; 18 model residential areas and 57 model gardens were recognized.