The Director of the Da Nang branch of the State Bank of Viet Nam (SBV), Mr Vo Minh, said that as of 15 July, 21 borrowers received 3.72 billion VND in loans from the preferential credit package for social housing programme, which is in total worth about 30 trillion VND.

Of the borrowers, 18 social housing buyers were loaned over 3 billion VND, and 3 other people were loaned about 700 million VND for commercial housing developments.

In detail, 8 borrowers accessed loans worth 1.22 billion VND from the Ngu Hanh Son District branch of the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), 7 borrowers took 1.283 billion VND from the city’s branch of the Viet Nam Bank for Agriculture and Rural Development (Agribank), and 4 borrowers took 725 million VND from the Hai Chau District branch of Agribank.  The city’s branches of the Bank for Foreign Trade of Viet Nam (Vietcombank) and VietinBank have disbursed loans to 1 borrower each, whilst the Mekong Delta Housing Development Bank (MHB) has not yet issued any loans.

After one and a half months of implementation, lending under the social housing programme for low income earners has been slow.

Recently, the joint venture between the Duc Manh Corporation and the 579 Construction and Investment Company broke ground on 3 residential buildings for local low-income earners in the city.  They are the 766-apartment An Trung No 2 building in Son Tra District’s An Hai Tay Ward, and the 477-unit Tran Thi Ly No 1 and the 315-apartment Tran Thi Ly No 2 residential blocks in Ngu Hanh Son District’s My An Ward.  The project developers have enjoyed benefits from the central government’s subsidised loan programme.