Construction Ministry proposes to extend housing package disbursement

The Ministry of Construction yesterday proposed the State Bank of Vietnam (SBV) to continue paying out from the VND30 trillion (US$1.34 billion) housing credit package to ensure the consistency and stability of the housing assistance policy.

(Illustrative Photo: SGGP)

According to the proposal, if the package is not wholly disbursed on June 1, SBV should extend the deadline.

In case the bank cannot extend the package it should permit investors of social housing projects or those eligible for buying apartments from these projects to continue getting loans with low interest rates.
On the same day, SBV said it had instructed commercial banks to intensify inspection and review over the package’s loaning and disbursement to make sure that it has been conducted as per regulations.
It is strictly prohibited to dodge the law to seek profit ahead of the disbursement deadline.

By staff writers – Translated by Hai Mien

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