Boosting Social Housing Loans

​(News Portal – Dong Nai) - In 2024, the Dong Nai branch of the Vietnam Bank for Social Policies (VBSP) actively coordinated with relevant departments, agencies, and units to review and assess the beneficiaries and demand for social housing loans within the province. Simultaneously, it worked in close collaboration with the Department of Construction to urge social housing and worker housing project developers to expedite completion and begin sales, particularly for the Social Housing Project in Bao Vinh Ward (Long Khanh City) and the A6-A7 Social Housing Project (Quang Vinh Ward, Bien Hoa City), to report to the Provincial People's Committee for funding allocation.

Customers completing disbursement procedures for social housing loans at the Dong Nai branch of the Vietnam Bank for Social Policies. 

Mr. Nguyen Sy Cuong, Deputy Director of the VBSP Dong Nai branch, stated that from the beginning of 2024 to the end of November, the branch provided loans to 212 households for purchasing social housing, with a total disbursement of VND 92.3 billion. These loans were granted for social housing projects in the province, including the Social Housing Project in Bao Vinh Ward (Long Khanh City) and the A6-A7 Social Housing Project (Quang Vinh Ward, Bien Hoa City).

As of the end of November 2024, the branch's total outstanding loans for purchasing, constructing, or renovating social housing reached VND 280.8 billion, supporting 735 households with remaining debts, an increase of 43.4% compared to the beginning of the year.

Regarding the disbursement progress for social housing projects, by late November 2024, the branch had disbursed VND 139.7 billion for two social housing projects in the province: the Social Housing Project in Bao Vinh Ward (Long Khanh City) and the A6-A7 Social Housing Project (Quang Vinh Ward, Bien Hoa City). Specifically, for the A6-A7 Social Housing Project, disbursements were made to 172 households, amounting to VND 68.7 billion. For the Social Housing Project in Bao Vinh Ward, loans were disbursed to 125 households, totaling over VND 71 billion.

Ms. Nguyen Thi My Hanh, a resident of Long Binh Tan Ward, Bien Hoa City, shared her joy: “Being approved for a loan and receiving a disbursement of VND 470 million to purchase a home at the A6-A7 Social Housing Project has made me very happy. It has made it easier for my family to secure a home, ensuring stability and a place to settle down. The loan disbursement process went quite smoothly. I hope the interest rate for social housing loans remains stable in the long term so that we can plan and manage our repayment strategies appropriately."​

Mr. Pham Quoc Bao, Deputy Director of the State Bank of Vietnam Dong Nai branch, emphasized the commitment to successfully implementing the government's proposal to “Build at least 1 million social housing units for low-income groups and industrial park workers during the 2021-2030 period." Additionally, the province's plan to construct 10,000 worker and social housing units by 2025 is underway. Moving forward, the branch will continue directing credit institutions in the province to proactively seek and engage with new social housing projects and developers, facilitating the implementation of this lending program. This includes loans for both project developers and homebuyers within these projects.