SBV calls to expedite housing finance package

The Construction Ministry would soon issue lists of projects and criteria for the preferential loans. — Bloomberg

HANOI: The State Bank of Vietnam (SBV) has called for the implementation of a 120 trillion Vietnamese dong (US$5.1bil or RM22.5bil) housing credit package to be sped up, saying that various stakeholders were in an acute shortage funds.

The package covers social housing development, homes for workers, and renovation of degraded apartments with preferential interest rates around 1.5% to 2% lower than the average rate of four state commercial banks.