The disbursement rate of the VND30 trillion loan package fell short of expectations.
Nhan Dan Online – The State Bank of Vietnam reported that, as of the end of 2013, commercial banks had pledged to lend VND1.881 trillion (US$88.4 million) to 1,789 customers under a Government-assisted home buying programme.
However, the amount disbursed was significantly lower – only VND758.7 billion (US$35.7 million) according to the central bank’s latest report.
Last year, the Government announced a loan package of VND30 trillion (US$1.41 billion) with a view to offering loans to homebuyers and property developers at an annual interest rate of 6% to help revive the sluggish property market.
The rate was later cut to 5% in order to expedite disbursement, and a circular was issued by the Ministry of Construction last November that relaxed eligibility for the programme.
Central bank data show that 1,777 individual customers were approved to borrow VND643 billion (US$30.2 million) to buy homes, while the loans for property developers totalled VND1.238 trillion (US$58.2 million).
Đăng ký: VietNam News
