After more than 1 year of implementing the 120,000 billion VND credit package, only 1% has been disbursed.

In April 2023, the State Bank officially announced a credit package of 120,000 billion VND to support the development of social housing, worker housing, and the renovation and reconstruction of old apartment buildings.

The credit package is applied to 2 subjects, including investors and people who need to buy social housing and workers' housing, who can access credit packages with interest rates 1.5% - 2% lower than the medium and long-term interest rates of 4 state-owned commercial banks.

After 1 year of implementation, the total disbursement of the 120,000 billion VND credit package for social housing has only reached 1.03%. (Photo: ST)

After more than 1 year of implementation, this credit package has almost stagnated. According to the latest report of the Ministry of Construction, by the end of the second quarter of 2024, that is, more than 14 months of implementation, commercial banks have disbursed VND 1,234 billion, including: VND 1,202 billion for investors in 12 projects; VND 32 billion for home buyers in 5 projects.

Thus, the total disbursed amount of this credit package after more than 1 year has only reached 1.03%. Of which, 1% is for investors and less than 0.3% for homebuyers.

Also according to the Ministry of Construction, through synthesis, up to now, only 32/63 provincial People's Committees have sent documents or announced on the electronic information portal about the list of projects participating in the Program with 73 projects; in which some provinces have announced many projects such as Hanoi (6 projects), Ho Chi Minh City (6 projects), Bac Ninh (6 projects), Binh Dinh (5 projects)...

In addition, in addition to the four state-owned commercial banks including BIDV, VietinBank, Agribank, Vietcombank, TPBank and VPBank have now registered to participate in the program with the registration amount of each bank being 5,000 billion VND.

Source: https://www.congluan.vn/hon-1-nam-trien-khai-goi-tin-dung-120000-ty-dong-moi-giai-ngan-duoc-1-post308281.html